H.C. Wainwright analyst Raghuram Selvaraju views the 15% selloff this week after Eton Pharmaceuticals (ETON) said it received a Complete Response Letter from the FDA on EM-100 as unwarranted. EM-100 is an "extremely minor contributor" to Eton's overall value proposition, since it is destined to be an over-the-counter product in a commodity segment, Selvaraju tells investors in a research note. Further, the CRL did not cite any issues with clinical data, and Bausch Health (BHC) has not wavered in its support of the drug, adds the analyst. He believes that any remaining items to be resolved are probably solely laboratory test-related in nature, which should be addressable within two to three months. Selvaraju views the recent selloff as a buying opportunity and reiterates a Buy rating on Eton Pharmaceuticals with an $18 price target.