Eton Pharmaceuticals, Inc. $ETON Shares Acquired by Profund Advisors LLC

Profund Advisors LLC grew its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 307.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,627 shares of the company’s stock after purchasing an additional 20,093 shares during the period. Profund Advisors LLC’s holdings in Eton Pharmaceuticals were worth $1,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ETON. Hsbc Holdings PLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $1,531,000. Bank of New York Mellon Corp purchased a new position in Eton Pharmaceuticals in the second quarter worth $4,281,000. Squarepoint Ops LLC bought a new position in Eton Pharmaceuticals in the second quarter valued at $2,156,000. Jefferies Financial Group Inc. bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $1,232,000. Finally, Bank of Nova Scotia purchased a new position in shares of Eton Pharmaceuticals during the second quarter worth approximately $623,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Krempa sold 25,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the completion of the sale, the insider directly owned 37,025 shares in the company, valued at $2,409,216.75. This trade represents a 40.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,166 shares of company stock valued at $4,809,672 in the last quarter. 16.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Eton Pharmaceuticals in a research report on Wednesday, October 14th. Zacks Research raised Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. B. Riley Financial reiterated a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Finally, Craig Hallum reissued a “buy” rating and set a $78.00 target price on shares of Eton Pharmaceuticals in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $71.50.

Eton Pharmaceuticals Price Performance

Shares of ETON opened at $50.81 on Tuesday. Eton Pharmaceuticals, Inc. has a fifty-two week low of $14.27 and a fifty-two week high of $66.37. The firm’s 50-day simple moving average is $55.75 and its two-hundred day simple moving average is $35.74. The stock has a market cap of $1.45 billion, a PE ratio of 133.71 and a beta of 0.90. 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 (NASDAQ:ETON) last released its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. The firm had revenue of $37.59 million during the quarter, compared to analyst estimates of $27.11 million. Analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Eton Pharmaceuticals Company Profile

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.