Magnetar Financial LLC Buys Shares of 13,731 Eton Pharmaceuticals, Inc. $ETON

Magnetar Financial LLC purchased a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,731 shares of the company’s stock, valued at approximately $196,000.

Several other hedge funds also recently modified their holdings of ETON. Nantahala Capital Management LLC increased its position in Eton Pharmaceuticals by 5.1% during the first quarter. Nantahala Capital Management LLC now owns 1,175,951 shares of the company’s stock worth $15,264,000 after acquiring an additional 57,468 shares during the period. Geode Capital Management LLC boosted its holdings in Eton Pharmaceuticals by 98.8% in the 2nd quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock valued at $8,450,000 after purchasing an additional 294,617 shares during the period. Acadian Asset Management LLC grew its position in Eton Pharmaceuticals by 61.9% in the 1st quarter. Acadian Asset Management LLC now owns 402,428 shares of the company’s stock worth $5,219,000 after purchasing an additional 153,923 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after purchasing an additional 217,042 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Eton Pharmaceuticals by 8.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 232,532 shares of the company’s stock worth $3,018,000 after purchasing an additional 17,654 shares during the period. 27.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Wall Street Zen upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.67.

Eton Pharmaceuticals Stock Down 0.6%

Shares of ETON opened at $16.19 on Thursday. The stock has a market cap of $434.22 million, a price-to-earnings ratio of -64.76 and a beta of 1.12. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Eton Pharmaceuticals, Inc. has a 12 month low of $11.09 and a 12 month high of $23.00. The company has a 50-day moving average price of $18.60 and a two-hundred day moving average price of $17.10.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.20). Eton Pharmaceuticals had a negative net margin of 9.50% and a negative return on equity of 11.32%. The company had revenue of $22.46 million during the quarter, compared to the consensus estimate of $20.47 million. Equities analysts predict that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

Eton Pharmaceuticals Profile

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.