1,175,951 Shares in Eton Pharmaceuticals, Inc. $ETON Purchased by Nantahala Capital Management LLC

Nantahala Capital Management LLC acquired a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,175,951 shares of the company’s stock, valued at approximately $42,569,426. Eton Pharmaceuticals comprises approximately 0.0% of Nantahala Capital Management LLC’s portfolio, making the stock its 9th largest position. Nantahala Capital Management LLC owned 4.29% of Eton Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ETON. Millennium Management LLC raised its position in Eton Pharmaceuticals by 156.3% during the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after acquiring an additional 217,042 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Eton Pharmaceuticals by 34.9% in the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock valued at $2,274,000 after purchasing an additional 45,341 shares during the last quarter. Jane Street Group LLC grew its position in shares of Eton Pharmaceuticals by 49.1% in the first quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock valued at $1,245,000 after purchasing an additional 31,596 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Eton Pharmaceuticals by 114.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company’s stock worth $3,457,000 after purchasing an additional 129,467 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $41,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This represents a 45.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Krempa sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the insider owned 37,025 shares in the company, valued at $2,409,216.75. This trade represents a 40.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 125,000 shares of company stock valued at $6,204,250. Company insiders own 16.49% of the company’s stock.

Wall Street Analyst Weigh In

ETON has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Zacks Research raised Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. B. Riley Financial reissued a “buy” rating and issued a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ ETON opened at $59.78 on Friday. The company has a market cap of $1.71 billion, a PE ratio of 157.32 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a 12 month low of $14.27 and a 12 month high of $66.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. The company has a 50-day simple moving average of $45.17 and a 200-day simple moving average of $31.90.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data 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 business had revenue of $37.59 million during 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%. On average, equities analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current 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.