Profund Advisors LLC increased its holdings in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON – Free Report) by 307.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,627 shares of the company’s stock after purchasing an additional 20,093 shares during the period. Profund Advisors LLC owned approximately 0.09% of Eton Pharmaceuticals worth $1,371,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ETON. Hilton Head Capital Partners LLC acquired a new position in Eton Pharmaceuticals in the third quarter valued at approximately $26,000. Sterling Capital Management LLC boosted its holdings 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 worth $46,000 after buying an additional 795 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $43,000. USA Financial Formulas acquired a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth approximately $62,000. Finally, SBI Securities Co. Ltd. grew its position in shares of Eton Pharmaceuticals by 159.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,852 shares of the company’s stock worth $95,000 after buying an additional 1,137 shares during the period. 27.86% of the stock is currently owned by institutional investors.
Insider Activity
In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of the business’s 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 transaction, the director directly owned 59,745 shares in the company, valued at $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Krempa sold 4,166 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $55.07, for a total value of $229,421.62. Following the transaction, the insider directly owned 43,381 shares of the company’s stock, valued at approximately $2,388,991.67. This trade represents a 8.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 79,166 shares of company stock worth $4,809,672. Insiders own 16.49% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on ETON shares. Craig Hallum reiterated a “buy” rating and issued a $78.00 price objective on shares of Eton Pharmaceuticals in a research note on Thursday, October 15th. B. Riley Financial reissued 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. Canaccord Genuity Group upped their target price on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Zacks Research raised shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Eton Pharmaceuticals in a research report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Eton Pharmaceuticals presently has an average rating of “Buy” and an average price target of $71.50.
View Our Latest Stock Report on Eton Pharmaceuticals
Eton Pharmaceuticals Trading Down 2.6%
Shares of ETON stock opened at $50.81 on Tuesday. The company has a 50-day simple moving average of $55.75 and a two-hundred day simple moving average of $35.74. 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. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 133.71 and a beta of 0.90.
Eton Pharmaceuticals (NASDAQ:ETON – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. The firm had revenue of $37.59 million during the quarter, compared to the consensus estimate of $27.11 million. Research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current fiscal year.
Eton Pharmaceuticals 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.
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