Walleye Capital LLC Takes Position in Eton Pharmaceuticals, Inc. $ETON

Walleye Capital LLC bought a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the first quarter, Holdings Channel reports. The firm bought 81,963 shares of the company’s stock, valued at approximately $2,023,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ETON. JPMorgan Chase & Co. increased its stake in Eton Pharmaceuticals by 44.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,417 shares of the company’s stock valued at $7,636,000 after buying an additional 108,837 shares during the period. Jefferies Financial Group Inc. lifted its position in Eton Pharmaceuticals by 33.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 118,300 shares of the company’s stock worth $2,000,000 after buying an additional 29,860 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $200,000. Squarepoint Ops LLC boosted its stake in shares of Eton Pharmaceuticals by 44.8% during the 2nd quarter. Squarepoint Ops LLC now owns 93,796 shares of the company’s stock valued at $1,337,000 after buying an additional 29,001 shares during the period. Finally, Invesco Ltd. acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $192,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Krempa sold 42,797 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $33.39, for a total value of $1,428,991.83. Following the completion of the sale, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. This represents a 62.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $4,853,921. Corporate insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Stock Up 1.3%

Eton Pharmaceuticals stock opened at $44.14 on Friday. The company has a market capitalization of $1.21 billion, a P/E ratio of -630.48 and a beta of 0.86. The firm’s fifty day simple moving average is $34.43 and its 200-day simple moving average is $25.31. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62. Eton Pharmaceuticals, Inc. has a 1-year low of $13.78 and a 1-year high of $44.91.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). The business had revenue of $24.27 million during the quarter, compared to analyst estimates of $22.31 million. Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. Sell-side analysts forecast that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETON has been the topic of a number of research reports. 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. Zacks Research cut Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. HC Wainwright boosted their target price on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Finally, Canaccord Genuity Group assumed coverage on Eton Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eton Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

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.