Eton Pharmaceuticals (NASDAQ:ETON) Price Target Raised to $18.00 at Craig Hallum

Eton Pharmaceuticals (NASDAQ:ETON) had its target price hoisted by analysts at Craig Hallum from $15.00 to $18.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 50.63% from the company’s current price.

Separately, HC Wainwright raised their target price on Eton Pharmaceuticals from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock traded down $0.04 on Wednesday, hitting $11.95. The stock had a trading volume of 193,952 shares, compared to its average volume of 345,779. The stock has a 50 day moving average of $11.51 and a 200 day moving average of $7.28. Eton Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $15.00. The firm has a market capitalization of $311.31 million, a P/E ratio of -54.32 and a beta of 1.38.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ETON. Parkman Healthcare Partners LLC raised its position in shares of Eton Pharmaceuticals by 2.8% in the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock worth $1,561,000 after buying an additional 7,029 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at about $54,000. Jane Street Group LLC bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter valued at about $90,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Eton Pharmaceuticals by 86.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after purchasing an additional 30,167 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Eton Pharmaceuticals by 13.5% in the third quarter. Geode Capital Management LLC now owns 272,696 shares of the company’s stock worth $1,637,000 after purchasing an additional 32,365 shares during the last quarter. Hedge funds and other institutional investors own 27.86% of the company’s stock.

About Eton Pharmaceuticals

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.