Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Major Shareholder Opaleye Management Inc. Acquires 11,248 Shares

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) major shareholder Opaleye Management Inc. purchased 11,248 shares of the stock in a transaction dated Monday, October 7th. The stock was bought at an average cost of $7.22 per share, with a total value of $81,210.56. Following the transaction, the insider now owns 2,730,000 shares in the company, valued at $19,710,600. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Friday, October 4th, Opaleye Management Inc. purchased 16,852 shares of Eton Pharmaceuticals stock. The stock was bought at an average cost of $6.77 per share, with a total value of $114,088.04.
• On Tuesday, September 10th, Opaleye Management Inc. acquired 57,500 shares of Eton Pharmaceuticals stock. The stock was acquired at an average price of $4.65 per share, with a total value of $267,375.00.

Eton Pharmaceuticals Stock Performance

NASDAQ ETON opened at $7.83 on Friday. Eton Pharmaceuticals, Inc. has a one year low of $3.03 and a one year high of $7.89. The stock has a 50-day moving average of $5.03 and a 200 day moving average of $4.03. The company has a market capitalization of $201.16 million, a price-to-earnings ratio of 195.75 and a beta of 1.31.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The firm had revenue of $9.07 million for the quarter, compared to the consensus estimate of $10.00 million. Eton Pharmaceuticals had a negative net margin of 21.31% and a negative return on equity of 43.62%. On average, equities analysts predict that Eton Pharmaceuticals, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ETON shares. Craig Hallum lifted their price objective on Eton Pharmaceuticals from $8.00 to $10.00 and gave the stock 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.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of large investors have recently made changes to their positions in ETON. Nantahala Capital Management LLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $3,095,000. Aristides Capital LLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $658,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $420,000. Stonepine Capital Management LLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $362,000. Finally, Opaleye Management Inc. grew its stake in shares of Eton Pharmaceuticals by 4.1% during the 4th quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock valued at $11,081,000 after purchasing an additional 99,617 shares during the period. 27.86% of the stock is currently owned by institutional investors.

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.