16,112 Shares in Eton Pharmaceuticals, Inc. $ETON Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS purchased a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,112 shares of the company’s stock, valued at approximately $830,000. Kornitzer Capital Management Inc. KS owned approximately 0.06% of Eton Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in Eton Pharmaceuticals in the third quarter valued at approximately $26,000. Toth Financial Advisory Corp acquired a new position in Eton Pharmaceuticals during the second quarter valued at approximately $43,000. Sterling Capital Management LLC lifted its stake in Eton Pharmaceuticals by 845.7% during the third quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock worth $46,000 after purchasing an additional 795 shares during the last quarter. USA Financial Formulas bought a new stake in Eton Pharmaceuticals during the third quarter worth $62,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Eton Pharmaceuticals during the third quarter worth $75,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ETON shares. Zacks Research raised Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Craig Hallum restated a “buy” rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Canaccord Genuity Group upped their price objective on Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. HC Wainwright raised their price objective on Eton Pharmaceuticals from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Finally, Weiss Ratings upgraded Eton Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, Eton Pharmaceuticals has an average rating of “Buy” and an average price target of $79.75.

Insiders Place Their Bets

In related news, insider David Krempa sold 4,166 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total transaction of $229,421.62. Following the sale, the insider owned 43,381 shares in the company, valued at $2,388,991.67. The trade was a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul V. Maier sold 50,000 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was 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 directly owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,166 shares of company stock worth $4,809,672 in the last 90 days. 16.49% of the stock is currently owned by corporate insiders.

Eton Pharmaceuticals Stock Performance

NASDAQ ETON opened at $67.54 on Wednesday. The firm’s fifty day moving average price is $55.03 and its two-hundred day moving average price is $36.97. The stock has a market cap of $1.95 billion, a PE ratio of 44.73 and a beta of 0.89. Eton Pharmaceuticals, Inc. has a fifty-two week low of $14.27 and a fifty-two week high of $68.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.58 and a current ratio of 1.79.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. Eton Pharmaceuticals had a return on equity of 104.82% and a net margin of 35.35%. The company had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $41.98 million. On average, equities analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current fiscal year.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.