Panoramic Capital LLC Takes $7.54 Million Position in Eton Pharmaceuticals, Inc. $ETON

Panoramic Capital LLC acquired a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 208,192 shares of the company’s stock, valued at approximately $7,537,000. Eton Pharmaceuticals makes up about 3.2% of Panoramic Capital LLC’s portfolio, making the stock its 13th largest holding. Panoramic Capital LLC owned approximately 0.76% of Eton Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETON. Quarry LP acquired a new position in Eton Pharmaceuticals in the 3rd quarter worth $37,000. Persistent Asset Partners Ltd acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $90,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eton Pharmaceuticals in the fourth quarter valued at about $44,000. Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals in the second quarter valued at about $41,000. Finally, State of Wyoming acquired a new position in shares of Eton Pharmaceuticals during the second quarter worth about $107,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETON has been the topic of a number of recent research reports. 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. Craig Hallum raised their price target on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday. 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 report on Friday, August 14th. Finally, Canaccord Genuity Group boosted their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Eton Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Insider Activity at Eton Pharmaceuticals

In related news, insider David Krempa sold 25,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the transaction, the insider directly owned 37,025 shares in the company, valued at approximately $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the sale, the director directly owned 50,000 shares in the company, valued at $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Stock Performance

ETON opened at $62.62 on Thursday. The business’s 50-day simple moving average is $44.02 and its 200 day simple moving average is $31.37. Eton Pharmaceuticals, Inc. has a 52-week low of $14.27 and a 52-week high of $66.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The firm has a market capitalization of $1.79 billion, a PE ratio of 164.79 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. The firm had revenue of $37.59 million during the quarter, compared to the consensus estimate of $27.11 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. As a group, sell-side analysts expect 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.