Eton Pharmaceuticals (NASDAQ:ETON) Raised to Strong-Buy at B. Riley

B. Riley upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

ETON has been the topic of several other reports. Craig Hallum increased their target price on Eton Pharmaceuticals from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright boosted their price objective on Eton Pharmaceuticals from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, January 6th.

Eton Pharmaceuticals Price Performance

ETON opened at $13.44 on Thursday. Eton Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $15.00. The stock has a market cap of $350.13 million, a P/E ratio of -61.09 and a beta of 1.38. The stock’s 50 day simple moving average is $11.64 and its 200 day simple moving average is $7.35.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new position in Eton Pharmaceuticals during the second quarter valued at approximately $420,000. Renaissance Technologies LLC lifted its position in Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after acquiring an additional 41,469 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Eton Pharmaceuticals during the second quarter valued at about $3,095,000. Stonepine Capital Management LLC bought a new position in shares of Eton Pharmaceuticals in the second quarter worth about $362,000. Finally, Aristides Capital LLC acquired a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth about $658,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.