Eton Pharmaceuticals, Inc. $ETON Stock: Westside Investment Management Inc. Lowers Stake

Westside Investment Management Inc. reduced its holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 6.9% in the 3rd quarter, Holdings Channel reports. The fund owned 401,385 shares of the company’s stock after selling 29,775 shares during the quarter. Eton Pharmaceuticals accounts for 2.6% of Westside Investment Management Inc.’s portfolio, making the stock its 6th biggest position. Westside Investment Management Inc.’s holdings in Eton Pharmaceuticals were worth $20,669,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in shares of Eton Pharmaceuticals during the 3rd quarter valued at about $26,000. Sterling Capital Management LLC grew its position in shares of Eton Pharmaceuticals by 845.7% in the 3rd quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares during the period. Toth Financial Advisory Corp bought a new stake in Eton Pharmaceuticals during the 2nd quarter worth approximately $43,000. USA Financial Formulas bought a new stake in Eton Pharmaceuticals during the 3rd quarter worth approximately $62,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Eton Pharmaceuticals during the 3rd quarter worth approximately $75,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. B. Riley Financial restated a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Canaccord Genuity Group upped their price target on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 14th. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Eton Pharmaceuticals in a research report on Wednesday, October 14th. Weiss Ratings upgraded shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Finally, Craig Hallum restated a “buy” rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $71.50.

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of the company’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 transaction of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This represents a 45.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Krempa sold 4,166 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total value of $229,421.62. Following the transaction, the insider directly owned 43,381 shares of the company’s stock, valued at approximately $2,388,991.67. This trade represents a 8.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 79,166 shares of company stock worth $4,809,672 in the last 90 days. Company insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock opened at $47.15 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 124.08 and a beta of 0.89. The stock’s 50-day moving average is $54.92 and its 200-day moving average is $36.26. Eton Pharmaceuticals, Inc. has a one year low of $14.27 and a one year high of $66.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. The business had revenue of $57.93 million during the quarter, compared to the consensus estimate of $41.98 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. Equities analysts predict that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited therapeutic options. The company generally pursues products that address unmet medical needs, including medicines for pediatric and orphan indications.

Eton’s commercial portfolio has included Alkindi Sprinkle, an oral hydrocortisone formulation used as replacement therapy in young children with adrenal insufficiency, and Eprontia, an oral solution formulation of topiramate.