Bank of America Corp DE boosted its holdings in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 37.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,367 shares of the company's stock after purchasing an additional 39,571 shares during the period. Bank of America Corp DE owned approximately 0.53% of Eton Pharmaceuticals worth $3,563,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in shares of Eton Pharmaceuticals in the first quarter valued at $1,432,000. EcoR1 Capital LLC boosted its stake in shares of Eton Pharmaceuticals by 7.0% during the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company's stock worth $53,603,000 after acquiring an additional 141,394 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Eton Pharmaceuticals during the 1st quarter worth $2,023,000. Aristides Capital LLC grew its holdings in shares of Eton Pharmaceuticals by 15.2% in the 1st quarter. Aristides Capital LLC now owns 186,041 shares of the company's stock worth $4,591,000 after acquiring an additional 24,605 shares during the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Eton Pharmaceuticals by 33.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 118,300 shares of the company's stock worth $2,000,000 after acquiring an additional 29,860 shares during the last quarter. 27.86% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
ETON has been the topic of a number of recent analyst reports. HC Wainwright boosted their target price on Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. 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. Wall Street Zen upgraded Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Zacks Research raised shares of Eton Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Eton Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $67.50.
Read Our Latest Stock Report on ETON
Eton Pharmaceuticals Stock Performance
ETON stock opened at $59.78 on Friday. The firm has a 50 day simple moving average of $45.17 and a 200 day simple moving average of $31.90. Eton Pharmaceuticals, Inc. has a 52 week low of $14.27 and a 52 week high of $66.37. The stock has a market cap of $1.71 billion, a P/E ratio of 157.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52.
Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.24. The company had revenue of $37.59 million during the quarter, compared to the consensus estimate of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. Research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.
Insider Transactions at Eton Pharmaceuticals
In other news, Director Jennifer Mckie Adams sold 50,000 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares of the company's stock, valued at approximately $1,624,000. This represents a 50.00% 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, Director Paul V. Maier sold 50,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the sale, the director owned 59,745 shares of the company's stock, valued at approximately $3,529,137.15. This represents a 45.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 125,000 shares of company stock valued at $6,204,250. 16.49% of the stock is owned by insiders.
Eton Pharmaceuticals Company Profile
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Free Report)
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.
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