Eton Pharmaceuticals, Inc. $ETON Shares Purchased by State of Wyoming

State of Wyoming grew its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 594.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,484 shares of the company’s stock after buying an additional 17,534 shares during the quarter. State of Wyoming owned 0.07% of Eton Pharmaceuticals worth $1,055,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in Eton Pharmaceuticals in the 3rd quarter valued at approximately $26,000. Toth Financial Advisory Corp bought a new position in Eton Pharmaceuticals in the second quarter valued at $43,000. Sterling Capital Management LLC grew its position in Eton Pharmaceuticals by 845.7% in the third quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares in the last quarter. USA Financial Formulas bought a new position in Eton Pharmaceuticals in the third quarter valued at $62,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Eton Pharmaceuticals in the 2nd quarter valued at $90,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Insider Activity

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the sale, the director owned 59,745 shares in the company, valued at $3,529,137.15. The trade was a 45.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the completion of the sale, the insider owned 37,025 shares of the company’s stock, valued at $2,409,216.75. This trade represents a 40.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,166 shares of company stock worth $4,809,672 over the last 90 days. 16.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Eton Pharmaceuticals in a report on Wednesday, October 14th. Craig Hallum reiterated a “buy” rating and issued a $78.00 price target on shares of Eton Pharmaceuticals in a research note on Thursday, October 15th. Zacks Research raised shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Canaccord Genuity Group boosted their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Weiss Ratings raised shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Eton Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $71.50.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $52.18 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 137.32 and a beta of 0.90. The company has a 50-day simple moving average of $56.00 and a 200 day simple moving average of $35.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. Eton Pharmaceuticals, Inc. has a 52 week low of $14.27 and a 52 week high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. On average, sell-side analysts predict that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited therapeutic options. The company generally pursues products that address unmet medical needs, including medicines for pediatric and orphan indications.

Eton’s commercial portfolio has included Alkindi Sprinkle, an oral hydrocortisone formulation used as replacement therapy in young children with adrenal insufficiency, and Eprontia, an oral solution formulation of topiramate.