B. Riley Initiates Coverage on Eton Pharmaceuticals (NASDAQ:ETON)

Analysts at B. Riley initiated coverage on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a research note issued to investors on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $21.00 price target on the stock. B. Riley’s price objective suggests a potential upside of 74.85% from the company’s current price.

ETON has been the topic of a number of other reports. HC Wainwright raised their price target on shares of Eton Pharmaceuticals from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum raised their target price on Eton Pharmaceuticals from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday.

Eton Pharmaceuticals Stock Performance

NASDAQ:ETON opened at $12.01 on Friday. The stock has a market capitalization of $312.87 million, a PE ratio of -54.59 and a beta of 1.38. Eton Pharmaceuticals has a fifty-two week low of $3.03 and a fifty-two week high of $15.00. The company has a fifty day moving average of $11.64 and a two-hundred day moving average of $7.35.

Institutional Investors Weigh In On Eton Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. boosted its stake in Eton Pharmaceuticals by 5.7% during the third quarter. Westside Investment Management Inc. now owns 618,675 shares of the company’s stock worth $3,711,000 after buying an additional 33,275 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $1,637,000 after purchasing an additional 32,365 shares during the period. Jane Street Group LLC acquired a new stake in Eton Pharmaceuticals during the third quarter worth about $90,000. Parkman Healthcare Partners LLC raised its stake in Eton Pharmaceuticals by 2.8% during the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock worth $1,561,000 after purchasing an additional 7,029 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Eton Pharmaceuticals in the 3rd quarter valued at about $54,000. Institutional investors and hedge funds 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.