Mink Brook Asset Management LLC Lowers Position in Eton Pharmaceuticals, Inc. $ETON

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 lessened its stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 69.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,488 shares of the company's stock after selling 314,317 shares during the period. Eton Pharmaceuticals makes up about 1.9% of Mink Brook Asset Management LLC's investment portfolio, making the stock its 13th largest holding. Mink Brook Asset Management LLC owned 0.53% of Eton Pharmaceuticals worth $1,837,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC increased its position in Eton Pharmaceuticals by 12.0% during the 4th quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company's stock valued at $14,898,000 after buying an additional 119,750 shares in the last quarter. Parkman Healthcare Partners LLC increased its position in Eton Pharmaceuticals by 6.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company's stock valued at $3,688,000 after buying an additional 16,664 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Eton Pharmaceuticals by 8.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 232,532 shares of the company's stock valued at $3,018,000 after buying an additional 17,654 shares in the last quarter. Millennium Management LLC bought a new position in Eton Pharmaceuticals during the 4th quarter valued at approximately $1,850,000. Finally, Two Sigma Investments LP bought a new position in Eton Pharmaceuticals during the 4th quarter valued at approximately $1,498,000. Institutional investors own 27.86% of the company's stock.

Analyst Upgrades and Downgrades

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

Eton Pharmaceuticals Stock Performance

Shares of ETON stock traded down $0.12 on Friday, reaching $17.17. The stock had a trading volume of 54,005 shares, compared to its average volume of 361,573. The stock has a market cap of $460.37 million, a P/E ratio of -107.25 and a beta of 1.13. Eton Pharmaceuticals, Inc. has a 1 year low of $4.47 and a 1 year high of $21.48. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.16 and a current ratio of 1.77. The company has a 50 day simple moving average of $15.27 and a 200 day simple moving average of $15.45.

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

Insiders Place Their Bets

In other news, CFO James R. Gruber sold 39,082 shares of the firm's 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 transaction, the chief financial officer directly owned 205,299 shares in the company, valued at $3,317,631.84. This trade represents a 15.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David Krempa sold 16,977 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $14.92, for a total value of $253,296.84. Following the completion of the transaction, the insider owned 629,669 shares in the company, valued at approximately $9,394,661.48. This trade represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,713 shares of company stock worth $1,178,031. Company insiders own 16.03% of the company's stock.

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.