Eton Pharmaceuticals, Inc. $ETON Stock Holdings Trimmed by Mink Brook Asset Management LLC

Key Points

• Mink Brook Asset Management LLC significantly reduced its stake in Eton Pharmaceuticals by 69.0%, now holding 141,488 shares valued at approximately $1.84 million.
• Analysts have various target price revisions for Eton Pharmaceuticals, with the consensus target price expected to rise to $29.67 and ratings mostly remaining at "Buy".
• Eton Pharmaceuticals reported a quarterly loss with earnings per share of ($0.10), missing the consensus estimate, while revenue was higher than expected at $18.93 million.

Mink Brook Asset Management LLC lowered its holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 69.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,488 shares of the company's stock after selling 314,317 shares during the period. Eton Pharmaceuticals accounts for 1.9% of Mink Brook Asset Management LLC's investment portfolio, making the stock its 13th biggest position. Mink Brook Asset Management LLC owned about 0.53% of Eton Pharmaceuticals worth $1,837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ETON. JPMorgan Chase & Co. grew its position in shares of Eton Pharmaceuticals by 7,086.9% in the fourth quarter. JPMorgan Chase & Co. now owns 51,961 shares of the company's stock valued at $692,000 after purchasing an additional 51,238 shares during the period. Envestnet Asset Management Inc. acquired a new position in Eton Pharmaceuticals in the fourth quarter valued at $236,000. Raymond James Financial Inc. acquired a new position in Eton Pharmaceuticals in the fourth quarter valued at $147,000. Barclays PLC acquired a new position in Eton Pharmaceuticals in the fourth quarter valued at $731,000. Finally, XTX Topco Ltd boosted its holdings in Eton Pharmaceuticals by 29.6% in the fourth quarter. XTX Topco Ltd now owns 14,655 shares of the company's stock valued at $195,000 after acquiring an additional 3,351 shares during the last quarter. Hedge funds and other institutional investors own 27.86% of the company's stock.

Eton Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:ETON traded down $0.18 during trading on Wednesday, hitting $17.28. The company's stock had a trading volume of 258,251 shares, compared to its average volume of 335,744. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.16 and a current ratio of 1.77. Eton Pharmaceuticals, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $21.48. The stock's 50-day moving average price is $15.20 and its two-hundred day moving average price is $15.45. The company has a market capitalization of $463.45 million, a PE ratio of -108.00 and a beta of 1.13.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%.The business had revenue of $18.93 million during the quarter, compared to analyst estimates of $16.71 million. As a group, sell-side analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $35.00 target price (up previously from $33.00) on shares of Eton Pharmaceuticals in a report on Thursday, May 29th. Craig Hallum lifted their target price on Eton Pharmaceuticals from $26.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. B. Riley reiterated a "buy" rating and issued a $26.00 target price (up previously from $24.00) on shares of Eton Pharmaceuticals in a report on Friday, May 16th. Finally, Wall Street Zen cut Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $29.67.

Insider Activity

In related news, CFO James R. Gruber sold 39,082 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was 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. The trade was a 15.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Krempa sold 16,977 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $14.92, for a total value of $253,296.84. Following the completion of the sale, the insider directly owned 629,669 shares of the company's stock, valued at approximately $9,394,661.48. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,713 shares of company stock worth $1,178,031. Insiders own 16.03% of the company's stock.

About Eton Pharmaceuticals

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.