58,034 Shares in Eton Pharmaceuticals, Inc. $ETON Purchased by Sei Investments Co.

Sei Investments Co. acquired a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETONFree Report) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 58,034 shares of the company’s stock, valued at approximately $1,432,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opaleye Management Inc. boosted its holdings in Eton Pharmaceuticals by 0.3% in the second quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock worth $40,755,000 after purchasing an additional 7,930 shares during the last quarter. Vanguard Group Inc. raised its stake in Eton Pharmaceuticals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after buying an additional 31,942 shares during the last quarter. State Street Corp lifted its holdings in shares of Eton Pharmaceuticals by 14.5% during the 4th quarter. State Street Corp now owns 501,925 shares of the company’s stock valued at $8,488,000 after buying an additional 63,480 shares during the period. Millennium Management LLC lifted its holdings in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after buying an additional 217,042 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Eton Pharmaceuticals by 44.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,417 shares of the company’s stock worth $7,636,000 after buying an additional 108,837 shares during the last quarter. Institutional investors own 27.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ETON. HC Wainwright lifted their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Canaccord Genuity Group started coverage on Eton Pharmaceuticals in a research report on Thursday, July 16th. They issued a “buy” rating and a $60.00 target price on the stock. Craig Hallum boosted their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eton Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

Read Our Latest Stock Analysis on ETON

Insiders Place Their Bets

In related news, insider David Krempa sold 42,797 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $33.39, for a total value of $1,428,991.83. Following the completion of the transaction, the insider owned 25,249 shares of the company’s stock, valued at approximately $843,064.11. This trade represents a 62.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 150,000 shares of company stock valued at $4,853,921 over the last three months. Corporate insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Stock Down 2.1%

Shares of ETON opened at $43.67 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -623.77 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a 1 year low of $14.27 and a 1 year high of $50.18. The business’s 50 day simple moving average is $37.66 and its 200-day simple moving average is $27.82.

Eton Pharmaceuticals (NASDAQ:ETONGet Free Report) last posted its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The business had revenue of $24.27 million during the quarter, compared to analysts’ expectations of $22.31 million. As a group, equities analysts expect that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

About Eton Pharmaceuticals

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eton Pharmaceuticals (NASDAQ:ETON)

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