Cannell Capital LLC Takes $6.18 Million Position in Eton Pharmaceuticals, Inc. $ETON

Cannell Capital LLC bought a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the 2nd quarter, Holdings Channel.com reports. The fund bought 170,747 shares of the company’s stock, valued at approximately $6,181,041. Eton Pharmaceuticals makes up approximately 0.0% of Cannell Capital LLC’s holdings, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ETON. Quarry LP purchased a new position in Eton Pharmaceuticals during the third quarter valued at $37,000. Persistent Asset Partners Ltd bought a new stake in Eton Pharmaceuticals in the 2nd quarter valued at $90,000. Caitong International Asset Management Co. Ltd purchased a new stake in Eton Pharmaceuticals in the 4th quarter worth $44,000. Legal & General Group Plc purchased a new stake in Eton Pharmaceuticals in the 2nd quarter worth $41,000. Finally, State of Wyoming bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $107,000. Institutional investors own 27.86% of the company’s stock.

Insider Buying and Selling

In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul V. Maier sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the sale, the director directly owned 59,745 shares in the company, valued at $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 125,000 shares of company stock worth $6,204,250. Corporate insiders own 16.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Zacks Research raised Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. HC Wainwright raised their price target on Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Eton Pharmaceuticals Price Performance

ETON stock opened at $59.78 on Friday. Eton Pharmaceuticals, Inc. has a 52 week low of $14.27 and a 52 week high of $66.37. The firm has a market capitalization of $1.71 billion, a P/E ratio of 157.32 and a beta of 0.86. The company has a fifty day simple moving average of $45.17 and a two-hundred day simple moving average of $31.90. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.24. The firm had revenue of $37.59 million for the quarter, compared to the consensus estimate of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. Analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Eton Pharmaceuticals Profile

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, manufacturing and commercializing generic and proprietary pharmaceutical products for patients with rare and underserved diseases. Headquartered in West Palm Beach, Florida, the company leverages its expertise in hormone therapies and complex molecules to address treatment areas where patient need is high and competition is limited. Since its founding in 2016, Eton has sought to build a diversified portfolio that combines established generic medicines with targeted branded offerings.

The company’s product lineup includes thyroid hormone replacements such as desiccated thyroid and liothyronine, as well as pyrimethamine tablets indicated for toxoplasmosis.