Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Significant Increase in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 273,900 shares, a growth of 32.6% from the November 15th total of 206,500 shares. Based on an average daily trading volume, of 219,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.1% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts have weighed in on ETON shares. Craig Hallum raised their price target on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 28th. HC Wainwright reissued a “buy” rating and set a $15.00 target price (up previously from $11.00) on shares of Eton Pharmaceuticals in a research report on Tuesday, November 26th.

Insider Activity

In other news, major shareholder Opaleye Management Inc. acquired 11,248 shares of Eton Pharmaceuticals stock in a transaction dated Monday, October 7th. The shares were acquired at an average cost of $7.22 per share, for a total transaction of $81,210.56. Following the acquisition, the insider now owns 2,730,000 shares of the company’s stock, valued at $19,710,600. This trade represents a 0.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 14.89% of the company’s stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $3,095,000. Westside Investment Management Inc. boosted its holdings in shares of Eton Pharmaceuticals by 5.7% in the third quarter. Westside Investment Management Inc. now owns 618,675 shares of the company’s stock valued at $3,711,000 after acquiring an additional 33,275 shares during the period. Geode Capital Management LLC grew its position in shares of Eton Pharmaceuticals by 13.5% during the third quarter. Geode Capital Management LLC now owns 272,696 shares of the company’s stock worth $1,637,000 after acquiring an additional 32,365 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Eton Pharmaceuticals by 2.8% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock valued at $1,561,000 after acquiring an additional 7,029 shares during the period. Finally, Wasatch Advisors LP purchased a new stake in Eton Pharmaceuticals in the 3rd quarter valued at $1,431,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Trading Up 1.6 %

Shares of NASDAQ ETON traded up $0.19 during mid-day trading on Friday, reaching $12.35. The company had a trading volume of 117,055 shares, compared to its average volume of 107,284. The firm has a 50 day simple moving average of $9.91 and a two-hundred day simple moving average of $6.15. Eton Pharmaceuticals has a 52-week low of $3.03 and a 52-week high of $13.98. The stock has a market cap of $319.12 million, a P/E ratio of -56.14 and a beta of 1.39.

About Eton Pharmaceuticals

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.