Eton Pharmaceuticals Inc (NASDAQ:ETON) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 250,000 shares, a decline of 20.7% from the August 30th total of 315,200 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 92,800 shares, the short-interest ratio is presently 2.7 days.
In related news, CEO Sean Brynjelsen bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $6.15 per share, for a total transaction of $30,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 13.46% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in Eton Pharmaceuticals by 122.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,139 shares of the company’s stock valued at $25,000 after purchasing an additional 1,728 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Eton Pharmaceuticals by 181.2% during the 2nd quarter. BlackRock Inc. now owns 26,092 shares of the company’s stock worth $206,000 after acquiring an additional 16,813 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Eton Pharmaceuticals by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 28,762 shares of the company’s stock worth $227,000 after acquiring an additional 1,800 shares in the last quarter. 9.95% of the stock is currently owned by institutional investors.
ETON has been the topic of several research reports. B. Riley initiated coverage on Eton Pharmaceuticals in a report on Friday, September 20th. They issued a “buy” rating and a $13.50 target price on the stock. Zacks Investment Research cut Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Eton Pharmaceuticals in a research note on Monday, August 5th. Lake Street Capital began coverage on Eton Pharmaceuticals in a research report on Monday, August 5th. They set a “buy” rating for the company. Finally, ValuEngine upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Eton Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $12.83.
Shares of ETON stock traded up $0.28 during trading hours on Friday, reaching $6.20. 45,381 shares of the company’s stock were exchanged, compared to its average volume of 101,623. The stock’s 50 day moving average is $6.01 and its 200-day moving average is $7.05. 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 fifty-two week low of $5.13 and a fifty-two week high of $10.20.
Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. Analysts expect that Eton Pharmaceuticals will post -1.11 earnings per share for the current fiscal year.
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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