JW Asset Management LLC Acquires New Stake in Eton Pharmaceuticals, Inc. $ETON

JW Asset Management LLC bought a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,394 shares of the company’s stock, valued at approximately $690,000. Eton Pharmaceuticals makes up about 0.3% of JW Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hilton Head Capital Partners LLC purchased a new position in Eton Pharmaceuticals in the 3rd quarter worth approximately $26,000. Toth Financial Advisory Corp bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth $43,000. Sterling Capital Management LLC raised its position in shares of Eton Pharmaceuticals by 845.7% during the 3rd quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after buying an additional 795 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth $62,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Eton Pharmaceuticals in the third quarter worth $75,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Canaccord Genuity Group increased their target price on Eton Pharmaceuticals from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 6th. HC Wainwright lifted their price target on Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Weiss Ratings upgraded Eton Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. B. Riley Financial upped their price objective on Eton Pharmaceuticals from $70.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Zacks Research lowered Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.75.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock opened at $61.45 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.58. The business’s 50 day simple moving average is $55.18 and its two-hundred day simple moving average is $37.47. The stock has a market capitalization of $1.77 billion, a P/E ratio of 40.70 and a beta of 0.89. Eton Pharmaceuticals, Inc. has a one year low of $14.27 and a one year high of $70.64.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. Eton Pharmaceuticals had a return on equity of 104.82% and a net margin of 35.35%. The firm had revenue of $57.93 million during the quarter, compared to analyst estimates of $41.98 million. Analysts forecast that Eton Pharmaceuticals, Inc. will post 1.54 EPS for the current year.

Insider Buying and Selling

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of the 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 completion of the sale, the director owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This represents a 45.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Krempa sold 25,000 shares of the firm’s stock in a transaction on 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 directly owned 37,025 shares in the company, valued at approximately $2,409,216.75. This trade represents a 40.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,666 shares of company stock valued at $5,045,607 over the last three months. 16.49% of the stock is owned by company insiders.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.