Opaleye Management, Inc. recently announced the acquisition of new stake in Eton Pharmaceuticals Inc. (NASDAQ:ETON). The institutional investor has increased its shareholding in the Healthcare company by 2.38% to 2.52 million shares with purchase of 58500.0 shares. This fresh investment now brings its stake to 9.97% valued currently at $7.11 million. In addition, The Vanguard Group, Inc. raised its holdings by 51843.0 to 0.92 million shares. And Westside Investment Management, I has lifted its position by 36.70% or 0.13 million shares – to 0.47 million shares.
With over 0.16 million Eton Pharmaceuticals Inc. (ETON) shares trading Monday and a closing price of $3.50 on the day, the dollar volume was approximately $0.58 million. The shares have shown a positive half year performance of 28.68% and its price on 01/23/23 gained nearly 2.34%. Currently, there are 25.36M common shares owned by the public and among those 20.87M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for ETON have a consensus price objective of $10.00. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $10.00. The average price target is 65.0% above its recent price level and an upside to the estimated low will see the stock gain 65.0% over that period. But an upside of 65.0% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 10,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Eton Pharmaceuticals Inc. are Vanguard Total Stock Market Index, Roumell Opportunistic Value Fund, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.58 million shares of the company’s stock, all valued at over $1.62 million. Vanguard Extended Market Index Fu bought 389.0 shares to bring its total holdings to over 0.31 million shares at a value of $0.88 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.23% of the shares outstanding.
Shares of Eton Pharmaceuticals Inc. (NASDAQ: ETON) opened at $3.50, up $0.08 from a prior closing price of $3.42. However, the script later moved the day high at 3.7550, up 2.34%. The company’s stock has a 5-day price change of 0.00% and 73.27% over the past three months. ETON shares are trading 24.11% year to date (YTD), with the 12-month market performance down to -6.67% lower. It has a 12-month low price of $1.95 and touched a high of $4.50 over the same period. ETON has an average intraday trading volume of 78.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.67%, 14.04%, and 22.50% respectively.
Institutional ownership of Eton Pharmaceuticals Inc. (NASDAQ: ETON) shares accounts for 25.20% of the company’s 25.36M shares outstanding. Mutual fund holders own 31.27%, while other institutional holders and individual stakeholders account for 8.95% and 16.16% respectively.
It has a market capitalization of $92.71M and a beta (3y monthly) value of 1.45. The earnings-per-share (ttm) stands at -$0.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.33% over the week and 8.04% over the month.
Analysts forecast that Eton Pharmaceuticals Inc. (ETON) will achieve an EPS of -$0.15 for the current quarter, -$0.01 for the next quarter and $0.01 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.15 while analysts give the company a high EPS estimate of -$0.15. Comparatively, EPS for the current quarter was -$0.24 a year ago. Earnings per share for the fiscal year are expected to increase by 94.20%, and 115.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Eton Pharmaceuticals Inc. (ETON) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ETON, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on October 14, 2021, with the firm’s price target at $10. H.C. Wainwright coverage for the Eton Pharmaceuticals Inc. (ETON) stock in a research note released on January 04, 2021 offered a Buy rating with a price target of $15. B. Riley FBR was of a view on September 20, 2019 that the stock is Buy, while H.C. Wainwright gave the stock Buy rating on June 10, 2019, issuing a price target of $15.
