Navellier & Associates Inc. Purchases Shares of 18,010 Eton Pharmaceuticals, Inc. $ETON

Navellier & Associates Inc. acquired a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the second quarter, HoldingsChannel.com reports. The firm acquired 18,010 shares of the company’s stock, valued at approximately $652,000.

Several other institutional investors and hedge funds have also bought and sold shares of ETON. Hsbc Holdings PLC acquired a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $1,531,000. Wellington Management Group LLP increased its holdings in shares of Eton Pharmaceuticals by 8.5% during the 2nd quarter. Wellington Management Group LLP now owns 76,103 shares of the company’s stock worth $2,755,000 after acquiring an additional 5,979 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Eton Pharmaceuticals in the 2nd quarter valued at $42,569,426. Cannell Capital LLC acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at $6,181,041. Finally, Jefferies Financial Group Inc. acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at $1,232,000. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Down 4.6%

NASDAQ ETON opened at $59.78 on Friday. 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, Inc. has a 1-year low of $14.27 and a 1-year high of $66.37. The company has a 50 day moving average of $45.17 and a 200-day moving average of $31.90. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 157.32 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $37.59 million for the quarter, compared to the consensus estimate of $27.11 million. On average, equities research analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the 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 of the company’s stock, valued at approximately $1,624,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the insider owned 37,025 shares in the company, valued at $2,409,216.75. The trade was a 40.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 125,000 shares of company stock worth $6,204,250. 16.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ETON shares. Craig Hallum boosted their price objective on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Canaccord Genuity Group increased 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. B. Riley Financial reissued a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.50.

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.