Man Group plc Makes New Investment in Eton Pharmaceuticals, Inc. $ETON

Man Group plc purchased a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,152 shares of the company’s stock, valued at approximately $585,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ETON. Quarry LP purchased a new stake in Eton Pharmaceuticals during the 3rd quarter valued at $37,000. Legal & General Group Plc bought a new position in Eton Pharmaceuticals in the second quarter valued at about $41,000. Caitong International Asset Management Co. Ltd bought a new position in Eton Pharmaceuticals in the fourth quarter valued at about $44,000. Persistent Asset Partners Ltd purchased a new position in Eton Pharmaceuticals in the second quarter worth about $90,000. Finally, State of Wyoming bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $107,000. Institutional investors own 27.86% of the company’s stock.

Insider Transactions at Eton Pharmaceuticals

In related news, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction that occurred 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 sale, the insider owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. This trade represents a 40.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul V. Maier sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares of the company’s stock, valued at $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 125,000 shares of company stock valued at $6,204,250 over the last 90 days. Company insiders own 16.49% of the company’s stock.

Analyst Ratings Changes

ETON has been the subject of several recent research reports. Craig Hallum boosted their target price on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright lifted their target price on Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 14th. B. Riley Financial reissued a “buy” rating and set a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.50.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ ETON opened at $59.90 on Friday. The stock has a market cap of $1.71 billion, a PE ratio of 157.63 and a beta of 0.90. Eton Pharmaceuticals, Inc. has a 1 year low of $14.27 and a 1 year high of $66.37. The firm has a fifty day moving average price of $47.32 and a 200-day moving average price of $33.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, topping 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 company had revenue of $37.59 million during the quarter, compared to the consensus estimate of $27.11 million. Equities 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, 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.