Pillsbury Lake Capital LLC Makes New Investment in Eton Pharmaceuticals, Inc. $ETON

Pillsbury Lake Capital LLC purchased a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 387,157 shares of the company’s stock, valued at approximately $14,015,083,000. Eton Pharmaceuticals comprises about 3.8% of Pillsbury Lake Capital LLC’s portfolio, making the stock its 6th largest position. Pillsbury Lake Capital LLC owned 1.41% of Eton Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Eton Pharmaceuticals during the third quarter valued at approximately $37,000. Persistent Asset Partners Ltd bought a new position in Eton Pharmaceuticals during the second quarter valued at about $90,000. Caitong International Asset Management Co. Ltd acquired a new stake in Eton Pharmaceuticals in the 4th quarter valued at about $44,000. Legal & General Group Plc acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth approximately $41,000. Finally, State of Wyoming bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter worth approximately $107,000. 27.86% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Stock Down 0.7%

Shares of ETON opened at $62.62 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $44.02 and a two-hundred day moving average price of $31.37. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 164.79 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a 12 month low of $14.27 and a 12 month high of $66.37.

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

Insider Activity

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the completion of the transaction, the insider owned 37,025 shares of the company’s stock, valued at $2,409,216.75. This trade represents a 40.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ETON. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Craig Hallum increased their price objective on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Canaccord Genuity Group raised their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, HC Wainwright raised their price objective on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eton Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $67.50.

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.