Short Interest in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Grows By 62.0%

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 204,600 shares, an increase of 62.0% from the September 30th total of 126,300 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 134,300 shares, the short-interest ratio is presently 1.5 days.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. purchased 16,852 shares of the business's stock in a transaction that occurred on Friday, October 4th. The stock was purchased at an average price of $6.77 per share, for a total transaction of $114,088.04. Following the purchase, the insider now directly owns 2,720,000 shares in the company, valued at approximately $18,414,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders bought 85,600 shares of company stock worth $462,674. Company insiders own 14.89% of the company's stock.

Institutional Trading of Eton Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $3,095,000. Westside Investment Management Inc. grew its position in Eton Pharmaceuticals by 2.0% in the second quarter. Westside Investment Management Inc. now owns 585,400 shares of the company's stock worth $1,926,000 after acquiring an additional 11,440 shares during the period. Aristides Capital LLC acquired a new stake in Eton Pharmaceuticals during the second quarter worth $658,000. Acadian Asset Management LLC raised its position in Eton Pharmaceuticals by 13.7% in the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company's stock valued at $585,000 after purchasing an additional 18,898 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at $420,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Trading Down 1.0 %

ETON traded down $0.08 on Friday, hitting $8.11. 94,168 shares of the company's stock were exchanged, compared to its average volume of 201,357. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $8.64. The stock has a market cap of $209.56 million, a price-to-earnings ratio of -31.19 and a beta of 1.31. The firm has a 50-day moving average price of $6.02 and a 200-day moving average price of $4.39.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.05). Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. The business had revenue of $9.07 million during the quarter, compared to analysts' expectations of $10.00 million. On average, equities analysts predict that Eton Pharmaceuticals will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

ETON has been the topic of several recent analyst reports. Craig Hallum increased their price objective on shares of Eton Pharmaceuticals from $8.00 to $10.00 and gave the company a "buy" rating in a report on Friday, October 4th. HC Wainwright lifted their price objective on Eton Pharmaceuticals from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, October 4th.

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.