HC Wainwright Reiterates "Buy" Rating for Eton Pharmaceuticals (NASDAQ:ETON)

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock, up from their prior target price of $11.00. HC Wainwright's price objective would suggest a potential upside of 22.35% from the company's current price.

Separately, Craig Hallum raised their target price on shares of Eton Pharmaceuticals from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, October 28th.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ ETON traded up $0.23 during midday trading on Tuesday, reaching $12.26. 295,112 shares of the stock were exchanged, compared to its average volume of 101,671. Eton Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $12.54. The business has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $5.30. The company has a market capitalization of $316.80 million, a price-to-earnings ratio of -54.68 and a beta of 1.25.

Insider Transactions at Eton Pharmaceuticals

In related news, major shareholder Opaleye Management Inc. bought 11,248 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average price of $7.22 per share, for a total transaction of $81,210.56. Following the completion of the acquisition, the insider now owns 2,730,000 shares of the company's stock, valued at approximately $19,710,600. The trade was a 0.41 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 85,600 shares of company stock valued at $462,674 over the last 90 days. 14.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ETON. Westside Investment Management Inc. lifted its stake in Eton Pharmaceuticals by 2.0% in the 2nd quarter. Westside Investment Management Inc. now owns 585,400 shares of the company's stock valued at $1,926,000 after purchasing an additional 11,440 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at $420,000. Renaissance Technologies LLC boosted its position in Eton Pharmaceuticals by 63.8% during the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company's stock worth $350,000 after purchasing an additional 41,469 shares during the period. Nantahala Capital Management LLC acquired a new position in shares of Eton Pharmaceuticals in the second quarter valued at $3,095,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of Eton Pharmaceuticals in the second quarter valued at $362,000. Institutional investors and hedge funds own 27.86% of the company's stock.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.