Eton Pharmaceuticals, Inc. $ETON is EcoR1 Capital LLC’s 10th Largest Position

EcoR1 Capital LLC raised its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 7.0% during the 1st quarter, HoldingsChannel reports. The firm owned 2,171,938 shares of the company’s stock after acquiring an additional 141,394 shares during the period. Eton Pharmaceuticals accounts for 2.3% of EcoR1 Capital LLC’s portfolio, making the stock its 10th biggest position. EcoR1 Capital LLC owned about 0.08% of Eton Pharmaceuticals worth $53,603,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ETON. Quarry LP acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth $37,000. Legal & General Group Plc purchased a new position in Eton Pharmaceuticals during the second quarter worth about $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Eton Pharmaceuticals in the fourth quarter valued at about $44,000. China Universal Asset Management Co. Ltd. purchased a new stake in Eton Pharmaceuticals in the 4th quarter valued at approximately $74,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $109,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Eton Pharmaceuticals Price Performance

ETON stock opened at $42.31 on Tuesday. The company has a market cap of $1.16 billion, a PE ratio of -604.34 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $34.87 and a two-hundred day moving average price of $25.67. Eton Pharmaceuticals, Inc. has a 12-month low of $13.78 and a 12-month high of $44.91.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The firm had revenue of $24.27 million during the quarter, compared to analysts’ expectations of $22.31 million. Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%. As a group, research analysts predict that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ETON. HC Wainwright upped their target price on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Canaccord Genuity Group assumed coverage on shares of Eton Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $60.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Zacks Research lowered Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Insider Buying and Selling

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of Eton Pharmaceuticals stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total transaction of $619,298.13. Following the transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $794,586.03. The trade was a 43.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 150,000 shares of company stock valued at $4,853,921. Corporate insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Company 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.