Opaleye Management Inc. Buys 400,000 Shares of Eton Pharmaceuticals Inc (NASDAQ:ETON) Stock
Eton Pharmaceuticals Inc (NASDAQ:ETON) major shareholder Opaleye Management Inc. bought 400,000 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was bought at an average price of $7.00 per share, for a total transaction of $2,800,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Eton Pharmaceuticals stock opened at $7.73 on Friday. The business’s fifty day simple moving average is $7.64 and its 200 day simple moving average is $5.95. The firm has a market capitalization of $161.99 million, a P/E ratio of -6.66 and a beta of 1.34. Eton Pharmaceuticals Inc has a 12 month low of $2.50 and a 12 month high of $9.12. The company has a current ratio of 4.68, a quick ratio of 4.06 and a debt-to-equity ratio of 0.68.
Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.03. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.33 million. Analysts predict that Eton Pharmaceuticals Inc will post -1.14 EPS for the current fiscal year.
A number of research analysts have recently weighed in on ETON shares. Zacks Investment Research upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Tuesday, October 13th. HC Wainwright raised their target price on Eton Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, September 30th.
Eton Pharmaceuticals Company Profile
Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. It primarily focuses on liquid products, including injectable, oral liquid, and ophthalmic products. The company develops EM-100, an ophthalmic product for the treatment of allergic conjunctivitis; ET-202 and ET-203, which are injectable product candidates for use in the hospital setting; ET-103, an oral liquid product candidate for hypothyroidism; ET-101, ET-102, and ET-104, which are oral liquid product candidates for neurological indications; and CT-100, a synthetic corticotropin therapeutic candidate for rheumatoid arthritis.
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