Eton Pharmaceuticals, Inc. $ETON Shares Purchased by State of Wyoming

State of Wyoming lifted its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 594.4% in the third quarter, HoldingsChannel.com reports. The fund owned 20,484 shares of the company’s stock after buying an additional 17,534 shares during the period. State of Wyoming’s holdings in Eton Pharmaceuticals were worth $1,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth approximately $26,000. Sterling Capital Management LLC raised its position in Eton Pharmaceuticals by 845.7% during the third quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in Eton Pharmaceuticals during the second quarter valued at approximately $43,000. USA Financial Formulas acquired a new position in Eton Pharmaceuticals during the third quarter valued at approximately $62,000. Finally, SBI Securities Co. Ltd. lifted its stake in Eton Pharmaceuticals by 159.0% during the third quarter. SBI Securities Co. Ltd. now owns 1,852 shares of the company’s stock worth $95,000 after purchasing an additional 1,137 shares during the last quarter. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Price Performance

ETON stock opened at $52.18 on Friday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 137.32 and a beta of 0.90. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. The company has a 50 day simple moving average of $56.00 and a 200 day simple moving average of $35.57. Eton Pharmaceuticals, Inc. has a 1 year low of $14.27 and a 1 year 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 for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. Research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ETON. Zacks Research raised Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Eton Pharmaceuticals in a report on Wednesday, October 14th. B. Riley Financial restated a “buy” rating and set a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Canaccord Genuity Group upped their price objective on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Weiss Ratings raised Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Eton Pharmaceuticals has an average rating of “Buy” and an average target price of $71.50.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, insider David Krempa sold 25,000 shares of the company’s stock in a transaction 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 directly owned 37,025 shares in the company, valued at approximately $2,409,216.75. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul V. Maier sold 50,000 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $59.07, for a total value 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. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 79,166 shares of company stock valued at $4,809,672 over the last quarter. Company insiders own 16.49% of the company’s stock.

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.