Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Sees Large Decrease in Short Interest

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 1,897,395 shares, a drop of 14.4% from the February 26th total of 2,217,404 shares. Based on an average daily trading volume, of 274,076 shares, the days-to-cover ratio is presently 6.9 days. Currently, 8.2% of the shares of the company are sold short.

Eton Pharmaceuticals Trading Up 2.4%

Shares of ETON stock traded up $0.60 on Wednesday, reaching $25.28. 620,839 shares of the stock were exchanged, compared to its average volume of 325,806. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.57 and a quick ratio of 1.17. Eton Pharmaceuticals has a one year low of $11.09 and a one year high of $25.99. The stock has a market cap of $689.56 million, a PE ratio of -140.28 and a beta of 1.19. The stock has a 50 day moving average price of $17.86 and a 200 day moving average price of $17.67.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings results on Thursday, March 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). The firm had revenue of $21.28 million during the quarter, compared to the consensus estimate of $20.58 million. Eton Pharmaceuticals had a negative net margin of 5.75% and a negative return on equity of 2.60%. Equities research analysts forecast that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Divisadero Street Capital Management LP bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth $7,092,000. Cannell Capital LLC boosted its holdings in Eton Pharmaceuticals by 17.3% during the third quarter. Cannell Capital LLC now owns 455,405 shares of the company’s stock worth $9,896,000 after buying an additional 67,230 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Eton Pharmaceuticals by 44.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 351,417 shares of the company’s stock worth $7,636,000 after buying an additional 108,837 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Eton Pharmaceuticals during the 3rd quarter worth about $1,922,000. Finally, Lumbard & Kellner LLC bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at about $3,831,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analysts Forecast Growth

ETON has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Thursday, January 22nd. HC Wainwright lifted their price objective on Eton Pharmaceuticals from $37.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, March 20th. B. Riley Financial boosted their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Zacks Research upgraded Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, Craig Hallum increased their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, manufacturing and commercializing generic and proprietary pharmaceutical products for patients with rare and underserved diseases. Headquartered in West Palm Beach, Florida, the company leverages its expertise in hormone therapies and complex molecules to address treatment areas where patient need is high and competition is limited. Since its founding in 2016, Eton has sought to build a diversified portfolio that combines established generic medicines with targeted branded offerings.

The company’s product lineup includes thyroid hormone replacements such as desiccated thyroid and liothyronine, as well as pyrimethamine tablets indicated for toxoplasmosis.