Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Short Interest Up 6.9% in March

Eton Pharmaceuticals, Inc. (NASDAQ:ETONGet Free Report) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 242,900 shares, a growth of 6.9% from the February 29th total of 227,200 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 75,100 shares, the short-interest ratio is presently 3.2 days.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock traded down $0.03 during midday trading on Wednesday, hitting $3.65. 9,825 shares of the company were exchanged, compared to its average volume of 70,363. The firm has a 50 day simple moving average of $4.29 and a 200-day simple moving average of $4.20. Eton Pharmaceuticals has a 52 week low of $2.42 and a 52 week high of $5.81.

Eton Pharmaceuticals (NASDAQ:ETONGet Free Report) last issued its earnings results on Thursday, March 14th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Eton Pharmaceuticals had a negative net margin of 2.96% and a negative return on equity of 6.21%. The firm had revenue of $7.31 million during the quarter, compared to analyst estimates of $7.70 million. On average, sell-side analysts forecast that Eton Pharmaceuticals will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Eton Pharmaceuticals in a research note on Monday, December 11th.

Check Out Our Latest Research Report on ETON

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Eton Pharmaceuticals by 1.9% in the second quarter. BlackRock Inc. now owns 298,225 shares of the company’s stock valued at $1,041,000 after acquiring an additional 5,560 shares during the last quarter. State Street Corp increased its holdings in Eton Pharmaceuticals by 9.3% during the 1st quarter. State Street Corp now owns 91,603 shares of the company’s stock valued at $399,000 after purchasing an additional 7,831 shares in the last quarter. Westside Investment Management Inc. increased its holdings in Eton Pharmaceuticals by 1.7% during the 3rd quarter. Westside Investment Management Inc. now owns 528,310 shares of the company’s stock valued at $2,203,000 after purchasing an additional 9,059 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at about $46,000. Finally, Virtu Financial LLC acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $57,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

About Eton Pharmaceuticals

(Get Free Report)

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.

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