Wasatch Advisors LP Makes New Investment in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Wasatch Advisors LP purchased a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the third quarter, Holdings Channel reports. The fund purchased 238,565 shares of the company’s stock, valued at approximately $1,431,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Eton Pharmaceuticals by 63.8% in the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock worth $350,000 after buying an additional 41,469 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter worth approximately $362,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Eton Pharmaceuticals by 86.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock valued at $390,000 after purchasing an additional 30,167 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $420,000. Finally, Aristides Capital LLC purchased a new position in Eton Pharmaceuticals in the 2nd quarter worth $658,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. bought 16,852 shares of the stock in a transaction dated Friday, October 4th. The stock was purchased at an average cost of $6.77 per share, for a total transaction of $114,088.04. Following the completion of the acquisition, the insider now owns 2,720,000 shares of the company’s stock, valued at approximately $18,414,400. This trade represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders bought 85,600 shares of company stock valued at $462,674. 14.89% of the stock is currently owned by company insiders.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock opened at $13.53 on Monday. The stock has a market capitalization of $349.62 million, a price-to-earnings ratio of -61.50 and a beta of 1.25. The company’s 50 day moving average price is $8.67 and its 200-day moving average price is $5.55. Eton Pharmaceuticals, Inc. has a 52-week low of $3.03 and a 52-week high of $13.72.

Wall Street Analysts Forecast Growth

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

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.