Acadian Asset Management LLC Acquires 153,923 Shares of Eton Pharmaceuticals, Inc. $ETON

Key Points

• Acadian Asset Management LLC increased its stake in Eton Pharmaceuticals by 61.9%, now owning 402,428 shares worth approximately $5.2 million.
• Eton Pharmaceuticals reported a loss of ($0.10) earnings per share for the last quarter, missing estimates, while its revenue was $18.93 million, exceeding the consensus estimate.
• Analysts have mixed views on Eton Pharmaceuticals' stock, with a "buy" rating from HC Wainwright and a "hold" rating from Wall Street Zen; the average price target is set at $29.67.

Acadian Asset Management LLC lifted its holdings in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 61.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 402,428 shares of the company's stock after acquiring an additional 153,923 shares during the quarter. Acadian Asset Management LLC owned 1.50% of Eton Pharmaceuticals worth $5,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP purchased a new stake in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $662,000. Millennium Management LLC purchased a new stake in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $1,850,000. Balyasny Asset Management L.P. purchased a new stake in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $158,000. Jane Street Group LLC increased its position in shares of Eton Pharmaceuticals by 328.6% during the fourth quarter. Jane Street Group LLC now owns 64,323 shares of the company's stock valued at $857,000 after acquiring an additional 49,317 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $1,498,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ETON shares. Wall Street Zen downgraded Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. HC Wainwright reaffirmed a "buy" rating and set a $35.00 price target (up from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $29.67.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, CFO James R. Gruber sold 39,082 shares of Eton Pharmaceuticals stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $16.16, for a total value of $631,565.12. Following the completion of the transaction, the chief financial officer directly owned 205,299 shares in the company, valued at approximately $3,317,631.84. The trade was a 15.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.03% of the company's stock.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ ETON traded up $0.78 during mid-day trading on Thursday, hitting $18.46. The company had a trading volume of 268,028 shares, compared to its average volume of 199,952. The company has a market capitalization of $495.06 million, a price-to-earnings ratio of -115.38 and a beta of 1.10. Eton Pharmaceuticals, Inc. has a 1 year low of $5.35 and a 1 year high of $21.48. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 1.14. The stock's 50-day moving average price is $16.26 and its 200-day moving average price is $15.66.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company had revenue of $18.93 million during the quarter, compared to analysts' expectations of $16.71 million. Eton Pharmaceuticals had a negative net margin of 7.10% and a negative return on equity of 0.73%. On average, sell-side analysts forecast 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.