PDT Partners LLC Makes New Investment in Eton Pharmaceuticals, Inc. $ETON

PDT Partners LLC bought a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,891 shares of the company’s stock, valued at approximately $539,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP acquired a new stake in Eton Pharmaceuticals during the third quarter worth approximately $37,000. Legal & General Group Plc acquired a new position in Eton Pharmaceuticals in the 2nd quarter valued at $41,000. Caitong International Asset Management Co. Ltd acquired a new position in Eton Pharmaceuticals in the 4th quarter valued at $44,000. Persistent Asset Partners Ltd bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $90,000. Finally, State of Wyoming bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $107,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, insider David Krempa sold 25,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the completion of the transaction, the insider owned 37,025 shares of the company’s stock, valued at $2,409,216.75. This represents a 40.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the sale, the director directly owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.49% of the stock is currently owned by corporate insiders.

Eton Pharmaceuticals Trading Up 0.1%

Shares of Eton Pharmaceuticals stock opened at $62.67 on Friday. The firm’s 50 day moving average is $44.62 and its 200 day moving average is $31.70. The firm has a market capitalization of $1.79 billion, a PE ratio of 164.92 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a 1 year low of $14.27 and a 1 year high of $66.37. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its 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 for the quarter, compared to analyst estimates of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. Equities research analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Craig Hallum raised their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday. HC Wainwright increased their price objective on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. B. Riley Financial reissued a “buy” rating and issued a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

Eton Pharmaceuticals 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.