EcoR1 Capital LLC Purchases 141,394 Shares of Eton Pharmaceuticals, Inc. $ETON

EcoR1 Capital LLC grew its position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,171,938 shares of the company’s stock after buying an additional 141,394 shares during the period. Eton Pharmaceuticals accounts for approximately 2.3% of EcoR1 Capital LLC’s investment portfolio, making the stock its 10th largest position. EcoR1 Capital LLC owned 7.93% of Eton Pharmaceuticals worth $53,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Eton Pharmaceuticals during the third quarter worth $37,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Eton Pharmaceuticals in the 4th quarter valued at $44,000. Legal & General Group Plc purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth $41,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Eton Pharmaceuticals during the 4th quarter worth $74,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth about $109,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright lifted their price target on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Zacks Research downgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Canaccord Genuity Group started coverage on shares of Eton Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Insiders Place Their Bets

In related news, insider David Krempa sold 19,679 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction of $619,298.13. Following the completion of the transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $794,586.03. The trade was a 43.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the company’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 sale, the director owned 50,000 shares in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 150,000 shares of company stock worth $4,853,921 in the last ninety days. Corporate insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Trading Down 0.7%

NASDAQ ETON opened at $42.31 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -604.34 and a beta of 0.86. The firm has a 50 day simple moving average of $34.87 and a 200-day simple moving average of $25.67. Eton Pharmaceuticals, Inc. has a one year low of $13.78 and a one year high of $44.91.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%.The business had revenue of $24.27 million for the quarter, compared to analysts’ expectations of $22.31 million. Equities research analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

About Eton Pharmaceuticals

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.