Westside Investment Management Inc. Lowers Stock Holdings in Eton Pharmaceuticals, Inc. $ETON

Westside Investment Management Inc. reduced its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 472,790 shares of the company’s stock after selling 20,860 shares during the quarter. Eton Pharmaceuticals comprises approximately 1.2% of Westside Investment Management Inc.’s holdings, making the stock its 16th largest position. Westside Investment Management Inc. owned 1.76% of Eton Pharmaceuticals worth $6,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. AlphaQuest LLC bought a new position in Eton Pharmaceuticals during the 1st quarter valued at approximately $53,000. Quantbot Technologies LP purchased a new stake in shares of Eton Pharmaceuticals in the first quarter worth $101,000. Y Intercept Hong Kong Ltd bought a new position in shares of Eton Pharmaceuticals during the first quarter valued at $174,000. Envestnet Asset Management Inc. raised its position in shares of Eton Pharmaceuticals by 33.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,050 shares of the company’s stock worth $328,000 after purchasing an additional 5,734 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Eton Pharmaceuticals during the 1st quarter valued at about $328,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ETON. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen raised Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Zacks Research upgraded Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.67.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $18.01 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 1.14. The company has a 50 day moving average price of $18.71 and a 200-day moving average price of $16.96. Eton Pharmaceuticals, Inc. has a 52 week low of $8.24 and a 52 week high of $23.00. The firm has a market capitalization of $483.03 million, a PE ratio of -112.56 and a beta of 1.12.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%.The company had revenue of $18.93 million during the quarter, compared to analysts’ expectations of $16.71 million. As a group, equities research analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, CFO James R. Gruber sold 39,082 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $16.16, for a total value of $631,565.12. Following the transaction, the chief financial officer directly owned 205,299 shares in the company, valued at $3,317,631.84. This trade represents a 15.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 14.89% of the stock is owned by insiders.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.