Eton Pharmaceuticals, Inc. $ETON Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 20.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 163,321 shares of the company’s stock after selling 42,379 shares during the period. Renaissance Technologies LLC’s holdings in Eton Pharmaceuticals were worth $4,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ETON. Opaleye Management Inc. lifted its holdings in Eton Pharmaceuticals by 0.3% in the 2nd quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock valued at $40,755,000 after acquiring an additional 7,930 shares during the last quarter. Vanguard Group Inc. lifted its stake in Eton Pharmaceuticals by 2.4% during the third quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after purchasing an additional 31,942 shares during the last quarter. State Street Corp lifted its stake in Eton Pharmaceuticals by 14.5% during the fourth quarter. State Street Corp now owns 501,925 shares of the company’s stock valued at $8,488,000 after purchasing an additional 63,480 shares during the last quarter. Millennium Management LLC boosted its holdings in Eton Pharmaceuticals by 156.3% during 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Eton Pharmaceuticals by 44.9% in the third quarter. JPMorgan Chase & Co. now owns 351,417 shares of the company’s stock worth $7,636,000 after buying an additional 108,837 shares during the last quarter. 27.86% of the stock is owned by institutional investors and hedge funds.

Eton Pharmaceuticals Price Performance

NASDAQ ETON opened at $44.60 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -637.05 and a beta of 0.86. The company has a 50 day simple moving average of $37.36 and a 200-day simple moving average of $27.54. Eton Pharmaceuticals, Inc. has a 52-week low of $14.27 and a 52-week high of $50.18.

Eton Pharmaceuticals (NASDAQ:ETON) last announced 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 company had revenue of $24.27 million for the quarter, compared to analysts’ expectations of $22.31 million. Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. Equities research analysts predict that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Krempa sold 19,679 shares of the business’s stock in a transaction 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 owned 25,249 shares in the company, valued at approximately $794,586.03. This represents a 43.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 150,000 shares of company stock valued at $4,853,921 in the last three months. Company insiders own 16.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ETON. Craig Hallum increased their price objective on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Zacks Research lowered Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Finally, Canaccord Genuity Group started coverage on Eton Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.50.

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.