BlackRock Inc. Invests $68.63 Million in Eton Pharmaceuticals, Inc. $ETON

Key Points

• BlackRock acquired 1.90 million Eton Pharmaceuticals shares valued at approximately $68.6 million, giving it a 6.92% stake. Institutional investors collectively own 27.86% of the company.
• Eton reported quarterly EPS of $0.43, exceeding the $0.19 consensus estimate, while revenue of $37.59 million surpassed expectations of $27.11 million. The stock opened at $59.78, near its one-year high of $66.37.
• Company insiders sold 125,000 shares worth approximately $6.2 million over the past quarter. Analysts maintain a “Moderate Buy” consensus, with an average price target of $67.50, although ratings range from Sell to Buy.

BlackRock Inc. bought a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,895,833 shares of the company's stock, valued at approximately $68,629,000. BlackRock Inc. owned about 6.92% of Eton Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Eton Pharmaceuticals during the third quarter worth $37,000. Persistent Asset Partners Ltd bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $90,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at $44,000. Legal & General Group Plc purchased a new stake in Eton Pharmaceuticals during the 2nd quarter worth about $41,000. Finally, State of Wyoming bought a new position in Eton Pharmaceuticals in the 2nd quarter worth about $107,000. Hedge funds and other institutional investors own 27.86% of the company's stock.

Insider Activity at Eton Pharmaceuticals

In related news, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the sale, the director owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul V. Maier sold 50,000 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director directly owned 59,745 shares in the company, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 125,000 shares of company stock worth $6,204,250 over the last quarter. Corporate insiders own 16.49% of the company's stock.

Eton Pharmaceuticals Stock Performance

ETON opened at $59.78 on Monday. The business has a 50 day simple moving average of $45.17 and a two-hundred day simple moving average of $32.02. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 157.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. Eton Pharmaceuticals, Inc. has a one year low of $14.27 and a one year high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.24. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. Analysts predict that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Wall Street Analysts Forecast Growth

ETON has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Craig Hallum boosted their price target on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. B. Riley Financial reaffirmed a "buy" rating and issued a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Wall Street Zen upgraded Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Finally, Canaccord Genuity Group boosted their target price on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.

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