Cannell Capital LLC Buys 67,230 Shares of Eton Pharmaceuticals, Inc. $ETON

Cannell Capital LLC raised its stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 455,405 shares of the company’s stock after purchasing an additional 67,230 shares during the period. Eton Pharmaceuticals accounts for about 1.5% of Cannell Capital LLC’s portfolio, making the stock its 11th biggest position. Cannell Capital LLC owned about 1.70% of Eton Pharmaceuticals worth $9,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Divisadero Street Capital Management LP bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at approximately $7,092,000. Geode Capital Management LLC raised its holdings in Eton Pharmaceuticals by 98.8% during the 2nd quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock valued at $8,450,000 after buying an additional 294,617 shares during the period. Soleus Capital Management L.P. bought a new stake in Eton Pharmaceuticals in the second quarter worth $4,061,000. Millennium Management LLC lifted its position in Eton Pharmaceuticals by 156.3% in the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after buying an additional 217,042 shares during the last quarter. Finally, Lumbard & Kellner LLC purchased a new position in Eton Pharmaceuticals during the third quarter worth $3,831,000. 27.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ETON. Craig Hallum boosted their price objective on shares of Eton Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Wall Street Zen cut shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. Finally, HC Wainwright raised their price objective on shares of Eton Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Eton Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $31.00.

Eton Pharmaceuticals Stock Performance

ETON stock opened at $18.93 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $16.36 and its two-hundred day simple moving average is $17.28. Eton Pharmaceuticals, Inc. has a twelve month low of $11.09 and a twelve month high of $23.00. The firm has a market cap of $507.70 million, a price-to-earnings ratio of -75.72 and a beta of 1.19.

About Eton Pharmaceuticals

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.