Eton Pharmaceuticals, Inc. $ETON Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its Eton Pharmaceuticals stake by 42.5% in the fourth quarter, selling 93,687 shares and leaving it with 126,674 shares valued at about $2.14 million.
• Several other institutions also adjusted positions in ETON, with firms like Millennium Management, Goldman Sachs, Jane Street, and JPMorgan increasing their holdings; institutional investors now own 27.86% of the stock.
• Insider selling has also been notable, as David Krempa sold 19,679 shares in late May, while analysts remain mixed overall with a consensus rating of Hold and an average target price of $41.00.

UBS Group AG reduced its stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 42.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,674 shares of the company's stock after selling 93,687 shares during the quarter. UBS Group AG owned 0.47% of Eton Pharmaceuticals worth $2,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ETON. Millennium Management LLC grew its position in Eton Pharmaceuticals by 156.3% during the first quarter. Millennium Management LLC now owns 355,929 shares of the company's stock worth $4,620,000 after buying an additional 217,042 shares during the period. Goldman Sachs Group Inc. grew its position in Eton Pharmaceuticals by 34.9% during the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company's stock worth $2,274,000 after buying an additional 45,341 shares during the period. Jane Street Group LLC grew its position in Eton Pharmaceuticals by 49.1% during the first quarter. Jane Street Group LLC now owns 95,919 shares of the company's stock worth $1,245,000 after buying an additional 31,596 shares during the period. JPMorgan Chase & Co. grew its position in Eton Pharmaceuticals by 114.5% during the second quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company's stock worth $3,457,000 after buying an additional 129,467 shares during the period. Finally, Legal & General Group Plc acquired a new position in Eton Pharmaceuticals during the second quarter worth about $41,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total value of $619,298.13. Following the sale, the insider owned 25,249 shares of the company's stock, valued at $794,586.03. This represents a 43.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 100,000 shares of company stock valued at $3,229,921 over the last quarter. 16.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ETON shares. Craig Hallum upped their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. B. Riley Financial upped their target price on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. HC Wainwright upped their target price on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Finally, Zacks Research downgraded shares of Eton Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, April 17th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Eton Pharmaceuticals presently has a consensus rating of "Hold" and an average target price of $41.00.

Eton Pharmaceuticals Stock Up 3.5%

Shares of NASDAQ ETON opened at $32.40 on Thursday. Eton Pharmaceuticals, Inc. has a 12-month low of $13.09 and a 12-month high of $35.66. The company has a market capitalization of $887.44 million, a PE ratio of -462.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The firm's 50-day moving average is $26.59 and its two-hundred day moving average is $20.03.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The business had revenue of $24.27 million during the quarter, compared to analysts' expectations of $22.31 million. Equities analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.82 EPS for the current fiscal 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.

Want to see what other hedge funds are holding ETON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report).

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.