Eton Pharmaceuticals, Inc. $ETON Stock Position Trimmed by Westside Investment Management Inc.

Key Points

• Westside Investment Management cut its Eton Pharmaceuticals stake by 6.9%, selling 29,775 shares in the third quarter; it still held 401,385 shares valued at about $20.7 million.
• Eton reported quarterly EPS of $0.50, above the $0.31 consensus, and revenue of $57.93 million versus analysts’ $41.98 million estimate.
• Shares were reported down 7.0%; analysts maintained a broadly positive outlook, with an average rating of Buy and an average price target of $71.50.

Westside Investment Management Inc. decreased its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 401,385 shares of the company's stock after selling 29,775 shares during the quarter. Eton Pharmaceuticals makes up approximately 2.6% of Westside Investment Management Inc.'s holdings, making the stock its 6th largest holding. Westside Investment Management Inc. owned about 1.40% of Eton Pharmaceuticals worth $20,669,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at $26,000. Sterling Capital Management LLC lifted its stake in shares of Eton Pharmaceuticals by 845.7% during the third quarter. Sterling Capital Management LLC now owns 889 shares of the company's stock valued at $46,000 after acquiring an additional 795 shares during the period. Toth Financial Advisory Corp acquired a new position in shares of Eton Pharmaceuticals during the second quarter valued at $43,000. USA Financial Formulas acquired a new position in shares of Eton Pharmaceuticals during the third quarter valued at $62,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Eton Pharmaceuticals in the third quarter valued at about $75,000. 27.86% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Trading Down 7.0%

NASDAQ:ETON opened at $47.15 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41. Eton Pharmaceuticals, Inc. has a 1-year low of $14.27 and a 1-year high of $66.37. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 124.08 and a beta of 0.89. The business's 50-day moving average price is $54.92 and its two-hundred day moving average price is $36.26.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.19. The company had revenue of $57.93 million during the quarter, compared to analyst estimates of $41.98 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. On average, equities analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Insider Activity at Eton Pharmaceuticals

In related news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director owned 59,745 shares of the company's stock, valued at $3,529,137.15. This trade represents a 45.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Krempa sold 25,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the transaction, the insider owned 37,025 shares of the company's stock, valued at approximately $2,409,216.75. This represents a 40.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,166 shares of company stock worth $4,809,672 in the last three months. 16.49% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ETON. HC Wainwright reiterated a "buy" rating and issued a $70.00 price objective on shares of Eton Pharmaceuticals in a research report on Wednesday, October 14th. Canaccord Genuity Group boosted their price objective on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Craig Hallum restated a "buy" rating and set a $78.00 target price on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Zacks Research raised shares of Eton Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 12th. Finally, B. Riley Financial reaffirmed a "buy" rating and issued a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $71.50.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited therapeutic options. The company generally pursues products that address unmet medical needs, including medicines for pediatric and orphan indications.

Eton's commercial portfolio has included Alkindi Sprinkle, an oral hydrocortisone formulation used as replacement therapy in young children with adrenal insufficiency, and Eprontia, an oral solution formulation of topiramate.

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