Short Interest in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Declines By 14.4%

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

Institutional Investors Weigh In On Eton Pharmaceuticals

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

Eton Pharmaceuticals Stock Performance

Shares of ETON opened at $25.36 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.57. The stock has a market capitalization of $691.92 million, a P/E ratio of -140.88 and a beta of 1.19. The company’s fifty day moving average is $18.06 and its two-hundred day moving average is $17.72. Eton Pharmaceuticals has a 1 year low of $11.09 and a 1 year high of $25.99.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, March 19th. The company reported $0.05 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 analyst estimates of $20.58 million. Eton Pharmaceuticals had a negative return on equity of 2.60% and a negative net margin of 5.75%. On average, sell-side analysts predict that Eton Pharmaceuticals will post -0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ETON. Craig Hallum lifted their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Thursday, January 22nd. HC Wainwright lifted their price objective on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wall Street Zen upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Finally, B. Riley Financial upped their price objective on Eton Pharmaceuticals from $26.00 to $31.00 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’s stock. According to MarketBeat.com, Eton Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

About Eton Pharmaceuticals

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.