Kornitzer Capital Management Inc. KS Purchases New Position in Eton Pharmaceuticals, Inc. $ETON

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 16,112 shares of the company’s stock, valued at approximately $830,000.

Several other large investors have also recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new position in shares of Eton Pharmaceuticals during the third quarter worth $26,000. Toth Financial Advisory Corp bought a new stake in shares of Eton Pharmaceuticals in the second quarter worth $43,000. Sterling Capital Management LLC increased its holdings in Eton Pharmaceuticals by 845.7% in the third quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares during the period. USA Financial Formulas acquired a new stake in Eton Pharmaceuticals in the third quarter valued at $62,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Eton Pharmaceuticals in the third quarter valued at $75,000. Institutional investors own 27.86% of the company’s stock.

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the completion of the sale, the insider directly owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. The trade was a 40.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul V. Maier sold 50,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the sale, the director directly owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is owned by insiders.

Analysts Set New Price Targets

ETON has been the subject of several analyst reports. HC Wainwright raised their target price on Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. B. Riley Financial upped their price target on Eton Pharmaceuticals from $70.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum restated a “buy” rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Canaccord Genuity Group lifted their price objective on Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Finally, Zacks Research upgraded Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $79.75.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $67.54 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 44.73 and a beta of 0.89. The firm has a 50 day moving average of $55.03 and a 200-day moving average of $36.97. Eton Pharmaceuticals, Inc. has a 52 week low of $14.27 and a 52 week high of $68.38.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, November 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. Eton Pharmaceuticals had a return on equity of 104.82% and a net margin of 35.35%. The company had revenue of $57.93 million for the quarter, compared to analyst estimates of $41.98 million. On average, equities analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Eton Pharmaceuticals Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.