Envestnet Asset Management Inc. Acquires New Holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Envestnet Asset Management Inc. acquired a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,740 shares of the company's stock, valued at approximately $236,000. Envestnet Asset Management Inc. owned approximately 0.07% of Eton Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETON. Baader Bank Aktiengesellschaft bought a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at $373,000. Jane Street Group LLC purchased a new position in Eton Pharmaceuticals in the 3rd quarter worth about $90,000. Geode Capital Management LLC increased its stake in Eton Pharmaceuticals by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 272,696 shares of the company's stock worth $1,637,000 after purchasing an additional 32,365 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Eton Pharmaceuticals during the 4th quarter worth about $147,000. Finally, Anchor Capital Advisors LLC purchased a new stake in Eton Pharmaceuticals during the fourth quarter valued at about $805,000. 27.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. B. Riley reissued a "buy" rating and issued a $24.00 target price (up from $21.00) on shares of Eton Pharmaceuticals in a research report on Wednesday, March 19th. Craig Hallum lifted their price target on Eton Pharmaceuticals from $23.00 to $26.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Finally, HC Wainwright reissued a "buy" rating and set a $33.00 price target on shares of Eton Pharmaceuticals in a research report on Wednesday, March 19th.

Eton Pharmaceuticals Trading Down 2.3%

ETON stock traded down $0.40 during midday trading on Tuesday, reaching $16.95. The company had a trading volume of 122,597 shares, compared to its average volume of 183,800. The company has a 50 day moving average of $14.50 and a two-hundred day moving average of $13.69. Eton Pharmaceuticals, Inc. has a 1 year low of $3.18 and a 1 year high of $18.41. The company has a market capitalization of $454.57 million, a P/E ratio of -77.05 and a beta of 1.22.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $11.65 million during the quarter, compared to analysts' expectations of $10.53 million. Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. On average, sell-side analysts anticipate that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current year.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.