Eton Pharmaceuticals (NASDAQ:ETON) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON - Free Report) in a research report released on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock.

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

Eton Pharmaceuticals Stock Performance

NASDAQ ETON traded up $1.43 during trading on Wednesday, hitting $10.60. 648,500 shares of the company's stock traded hands, compared to its average volume of 92,415. The stock has a fifty day moving average of $7.05 and a two-hundred day moving average of $4.86. Eton Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $11.11.

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. bought 11,248 shares of Eton Pharmaceuticals stock in a transaction dated Monday, October 7th. The shares were acquired at an average price of $7.22 per share, with a total value of $81,210.56. Following the completion of the purchase, the insider now owns 2,730,000 shares in the company, valued at $19,710,600. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have acquired 85,600 shares of company stock valued at $462,674. Corporate insiders own 14.89% of the company's stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in shares of Eton Pharmaceuticals by 13.7% during the 1st quarter. Acadian Asset Management LLC now owns 156,386 shares of the company's stock worth $585,000 after purchasing an additional 18,898 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of 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 buying an additional 11,440 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in Eton Pharmaceuticals during the 2nd quarter worth approximately $420,000. Renaissance Technologies LLC raised its stake in Eton Pharmaceuticals by 63.8% in the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company's stock valued at $350,000 after buying an additional 41,469 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new stake in Eton Pharmaceuticals during the second quarter worth approximately $3,095,000. 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.