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 institutional investors have recently modified their holdings of ETON. UBS Group AG lifted its holdings in Eton Pharmaceuticals by 164.0% during the first quarter. UBS Group AG now owns 6,731 shares of the company’s stock worth $28,000 after acquiring an additional 4,181 shares during the period. American International Group Inc. purchased a new stake in Eton Pharmaceuticals in the second quarter worth $49,000. New York State Common Retirement Fund purchased a new stake in Eton Pharmaceuticals in the second quarter worth $90,000. Jane Street Group LLC purchased a new stake in Eton Pharmaceuticals in the second quarter worth $121,000. Finally, First Trust Advisors LP increased its position in Eton Pharmaceuticals by 38.7% in the second quarter. First Trust Advisors LP now owns 28,080 shares of the company’s stock worth $153,000 after buying an additional 7,837 shares during the last quarter. Institutional investors and hedge funds own 32.48% of the company’s stock.

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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