Hsbc Holdings PLC Takes $1.53 Million Position in Eton Pharmaceuticals, Inc. $ETON

Hsbc Holdings PLC acquired a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,974 shares of the company’s stock, valued at approximately $1,531,000.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. bought a new stake in Eton Pharmaceuticals in the 1st quarter valued at approximately $1,432,000. Bank of Nova Scotia bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $623,000. EcoR1 Capital LLC raised its holdings in shares of Eton Pharmaceuticals by 7.0% in the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after purchasing an additional 141,394 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Eton Pharmaceuticals by 37.8% in the first quarter. Bank of America Corp DE now owns 144,367 shares of the company’s stock worth $3,563,000 after purchasing an additional 39,571 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Eton Pharmaceuticals in the first quarter worth $2,023,000. 27.86% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Stock Performance

NASDAQ ETON opened at $60.44 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $45.72 and its two-hundred day moving average price is $32.34. Eton Pharmaceuticals, Inc. has a 1 year low of $14.27 and a 1 year high of $66.37. The firm has a market capitalization of $1.73 billion, a P/E ratio of 159.05 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. The firm had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $27.11 million. As a group, research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 50,000 shares of the company’s stock, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul V. Maier sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were 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 owned 59,745 shares in the company, valued at $3,529,137.15. This represents a 45.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 125,000 shares of company stock worth $6,204,250. Insiders own 16.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ETON shares. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Craig Hallum boosted their price target on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Canaccord Genuity Group raised their price objective on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.