Cubist Systematic Strategies LLC Has $1.34 Million Stock Holdings in Eton Pharmaceuticals, Inc. $ETON

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Eton Pharmaceuticals by 138.7%, purchasing 59,961 shares to reach a total of 103,200 shares valued at approximately $1.34 million.
• Eton Pharmaceuticals reported a quarterly earnings loss of ($0.10) EPS, which was below analysts' expectations, despite revenue exceeding estimates at $18.93 million.
• While several analysts maintain a "buy" rating for Eton Pharmaceuticals, the stock received a mixed outlook, with price targets ranging from $26.00 to $35.00 as of recent reports.

Cubist Systematic Strategies LLC lifted its holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 138.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,200 shares of the company's stock after purchasing an additional 59,961 shares during the quarter. Cubist Systematic Strategies LLC owned 0.38% of Eton Pharmaceuticals worth $1,340,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. AlphaQuest LLC bought a new position in Eton Pharmaceuticals in the 1st quarter valued at about $53,000. Quantbot Technologies LP acquired a new position in shares of Eton Pharmaceuticals during the first quarter valued at approximately $101,000. Jefferies Financial Group Inc. acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $133,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Eton Pharmaceuticals by 18.3% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company's stock worth $141,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Eton Pharmaceuticals in the fourth quarter worth approximately $147,000. Institutional investors and hedge funds own 27.86% of the company's stock.

Eton Pharmaceuticals Stock Up 1.3%

Shares of ETON traded up $0.22 during mid-day trading on Thursday, reaching $17.64. The company's stock had a trading volume of 139,156 shares, compared to its average volume of 354,383. The company has a market cap of $473.10 million, a price-to-earnings ratio of -110.25 and a beta of 1.10. The business has a fifty day moving average of $15.93 and a 200 day moving average of $15.54. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 1.14. Eton Pharmaceuticals, Inc. has a 1 year low of $4.79 and a 1 year high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted 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). Eton Pharmaceuticals had a negative net margin of 7.10% and a negative return on equity of 0.73%. The business had revenue of $18.93 million for the quarter, compared to analyst estimates of $16.71 million. As a group, analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eton Pharmaceuticals news, CFO James R. Gruber sold 39,082 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $16.16, for a total value of $631,565.12. Following the transaction, the chief financial officer owned 205,299 shares in the company, valued at approximately $3,317,631.84. This represents a 15.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Krempa sold 10,223 shares of Eton Pharmaceuticals stock in a transaction on Monday, June 16th. The shares were sold at an average price of $14.73, for a total transaction of $150,584.79. Following the sale, the insider directly owned 612,646 shares of the company's stock, valued at $9,024,275.58. This trade represents a 1.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,736 shares of company stock worth $924,735 over the last ninety days. 16.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ETON. Craig Hallum boosted their price objective on Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen cut shares of Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. HC Wainwright restated a "buy" rating and set a $35.00 price objective (up previously from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th. Finally, B. Riley reiterated a "buy" rating and issued a $26.00 target price (up from $24.00) on shares of Eton Pharmaceuticals in a report on Friday, May 16th. Three investment 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 target price of $29.67.

Eton Pharmaceuticals 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.