Deutsche Bank AG Purchases Shares of 26,522 Eton Pharmaceuticals, Inc. $ETON

Key Points

• Deutsche Bank purchased 26,522 shares of Eton Pharmaceuticals worth approximately $960,000, while institutional investors collectively own 27.86% of the company.
• Insiders sold 125,000 shares valued at about $6.2 million over the past 90 days, including substantial reductions by insider David Krempa and director Paul V. Maier.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $67.50; Eton also exceeded quarterly earnings and revenue expectations.

Deutsche Bank AG purchased a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 26,522 shares of the company's stock, valued at approximately $960,000. Deutsche Bank AG owned approximately 0.10% of Eton Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ETON. Quarry LP bought a new position in shares of Eton Pharmaceuticals during the 3rd quarter valued at about $37,000. Legal & General Group Plc bought a new stake in Eton Pharmaceuticals in the 2nd quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in Eton Pharmaceuticals in the fourth quarter worth approximately $44,000. Persistent Asset Partners Ltd purchased a new stake in Eton Pharmaceuticals in the second quarter worth approximately $90,000. Finally, State of Wyoming purchased a new position in shares of Eton Pharmaceuticals during the second quarter worth approximately $107,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eton Pharmaceuticals

In related news, insider David Krempa sold 25,000 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the sale, the insider directly owned 37,025 shares of the company's stock, valued at $2,409,216.75. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul V. Maier sold 50,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 59,745 shares of the company's stock, 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. Insiders have sold 125,000 shares of company stock worth $6,204,250 over the last ninety days. 16.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ETON. B. Riley Financial reissued a "buy" rating and issued a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Craig Hallum increased their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. HC Wainwright upped their price target on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 14th. 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. Finally, Canaccord Genuity Group raised their price target on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.50.

Eton Pharmaceuticals Price Performance

ETON stock opened at $59.78 on Monday. 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 1 year low of $14.27 and a 1 year high of $66.37. The firm has a 50-day moving average of $45.17 and a 200 day moving average of $32.02. The company has a market cap of $1.71 billion, a P/E ratio of 157.32 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its earnings results 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. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The firm had revenue of $37.59 million for the quarter, compared to the consensus estimate of $27.11 million. On average, sell-side analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Eton Pharmaceuticals Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.