Cannell Capital LLC Acquires New Stake in Eton Pharmaceuticals, Inc. $ETON

Cannell Capital LLC bought a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 170,747 shares of the company’s stock, valued at approximately $6,181,041. Eton Pharmaceuticals accounts for approximately 0.0% of Cannell Capital LLC’s portfolio, making the stock its 11th biggest position. Cannell Capital LLC owned approximately 0.62% of Eton Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ETON. Deutsche Bank AG increased its position in shares of Eton Pharmaceuticals by 4.9% during the 4th quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock valued at $309,000 after purchasing an additional 850 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Eton Pharmaceuticals by 11.1% in the fourth quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock worth $210,000 after buying an additional 1,244 shares during the last quarter. State of Wyoming boosted its holdings in shares of Eton Pharmaceuticals by 16.4% in the first quarter. State of Wyoming now owns 9,498 shares of the company’s stock worth $234,000 after buying an additional 1,337 shares during the last quarter. Man Group plc grew its position in Eton Pharmaceuticals by 6.0% during the second quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after buying an additional 1,350 shares during the period. Finally, Quarry LP bought a new stake in Eton Pharmaceuticals during the third quarter valued at approximately $37,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Trading Down 4.6%

Eton Pharmaceuticals stock opened at $59.78 on Friday. Eton Pharmaceuticals, Inc. has a 12-month low of $14.27 and a 12-month high of $66.37. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 157.32 and a beta of 0.86. The firm has a 50 day moving average of $45.17 and a 200 day moving average of $31.90. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.24. The business had revenue of $37.59 million for the quarter, compared to the consensus estimate of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. As a group, research analysts predict that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Insider Activity at Eton Pharmaceuticals

In related news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Friday, August 28th. The shares were sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $1,624,000. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 125,000 shares of company stock worth $6,204,250. 16.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETON. HC Wainwright increased their price target on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Canaccord Genuity Group boosted their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 14th. B. Riley Financial restated a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

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.