Eton Pharmaceuticals Inc (NASDAQ:ETON) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 250,000 shares, a drop of 20.7% from the August 30th total of 315,200 shares. Based on an average daily volume of 92,800 shares, the short-interest ratio is currently 2.7 days. Currently, 2.3% of the company’s shares are short sold.
ETON stock traded up $0.28 during midday trading on Friday, hitting $6.20. The company’s stock had a trading volume of 45,381 shares, compared to its average volume of 101,623. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.48 and a current ratio of 11.48. Eton Pharmaceuticals has a 52-week low of $5.13 and a 52-week high of $10.20. The firm has a 50-day simple moving average of $6.01 and a 200-day simple moving average of $7.05.
Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.12. On average, research analysts predict that Eton Pharmaceuticals will post -1.11 EPS for the current fiscal year.
Several research firms recently weighed in on ETON. ValuEngine upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Lake Street Capital began coverage on shares of Eton Pharmaceuticals in a report on Monday, August 5th. They issued a “buy” rating for the company. B. Riley began coverage on shares of Eton Pharmaceuticals in a report on Friday, September 20th. They issued a “buy” rating and a $13.50 target price for the company. Zacks Investment Research downgraded shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Eton Pharmaceuticals in a report on Monday, August 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $12.83.
In related news, CEO Sean Brynjelsen bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $6.15 per share, for a total transaction of $30,750.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.46% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in Eton Pharmaceuticals by 122.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,139 shares of the company’s stock valued at $25,000 after buying an additional 1,728 shares during the period. BlackRock Inc. boosted its position in Eton Pharmaceuticals by 181.2% in the 2nd quarter. BlackRock Inc. now owns 26,092 shares of the company’s stock valued at $206,000 after buying an additional 16,813 shares during the period. Finally, Vanguard Group Inc. boosted its position in Eton Pharmaceuticals by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 28,762 shares of the company’s stock valued at $227,000 after buying an additional 1,800 shares during the period. 9.95% of the stock is owned by institutional investors.
About Eton Pharmaceuticals
Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. It primarily focuses on liquid products, including injectable, oral liquid, and ophthalmic products. The company develops EM-100, an ophthalmic product for the treatment of allergic conjunctivitis; ET-202 and ET-203, which are injectable product candidates for use in the hospital setting; ET-103, an oral liquid product candidate for hypothyroidism; ET-101, ET-102, and ET-104, which are oral liquid product candidates for neurological indications; and CT-100, a synthetic corticotropin therapeutic candidate for rheumatoid arthritis.
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