Divisadero Street Capital Management LP Takes $7.09 Million Position in Eton Pharmaceuticals, Inc. $ETON

Divisadero Street Capital Management LP acquired a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 497,716 shares of the company’s stock, valued at approximately $7,092,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Diametric Capital LP boosted its holdings in Eton Pharmaceuticals by 333.0% in the 2nd quarter. Diametric Capital LP now owns 84,858 shares of the company’s stock valued at $1,209,000 after purchasing an additional 65,261 shares during the period. Invesco Ltd. purchased a new stake in shares of Eton Pharmaceuticals in the second quarter worth $192,000. Quantbot Technologies LP raised its position in shares of Eton Pharmaceuticals by 223.7% in the second quarter. Quantbot Technologies LP now owns 25,233 shares of the company’s stock worth $360,000 after buying an additional 17,439 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Eton Pharmaceuticals during the second quarter valued at $115,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Eton Pharmaceuticals during the second quarter worth about $142,000. Institutional investors own 27.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ETON. Weiss Ratings restated 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 report on Friday, September 26th. Finally, Zacks Research downgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.67.

Eton Pharmaceuticals Trading Down 3.3%

Shares of ETON stock opened at $16.26 on Monday. 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 has a 50-day moving average price of $18.13 and a two-hundred day moving average price of $16.96. Eton Pharmaceuticals, Inc. has a 12-month low of $11.09 and a 12-month high of $23.00. The firm has a market cap of $436.09 million, a P/E ratio of -65.04 and a beta of 1.17.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.20). The firm had revenue of $22.46 million for the quarter, compared to the consensus estimate of $20.47 million. Eton Pharmaceuticals had a negative net margin of 9.50% and a negative return on equity of 11.32%. Equities analysts anticipate that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

Eton Pharmaceuticals Company Profile

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.