Connor Clark & Lunn Investment Management Ltd. raised its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,532 shares of the company's stock after purchasing an additional 17,654 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.87% of Eton Pharmaceuticals worth $3,018,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC bought a new position in shares of Eton Pharmaceuticals during the 4th quarter worth approximately $86,000. Jefferies Financial Group Inc. bought a new position in shares of Eton Pharmaceuticals during the 4th quarter worth approximately $133,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Eton Pharmaceuticals by 18.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company's stock valued at $141,000 after purchasing an additional 1,634 shares during the period. Raymond James Financial Inc. bought a new stake in Eton Pharmaceuticals in the 4th quarter valued at $147,000. Finally, Bank of America Corp DE boosted its stake in Eton Pharmaceuticals by 5,422.4% in the 4th quarter. Bank of America Corp DE now owns 11,100 shares of the company's stock valued at $148,000 after purchasing an additional 10,899 shares during the period. 27.86% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on ETON shares. B. Riley restated a "buy" rating and issued a $26.00 price target (up from $24.00) on shares of Eton Pharmaceuticals in a research note on Friday, May 16th. Wall Street Zen downgraded Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. HC Wainwright restated a "buy" rating and issued a $35.00 price target (up from $33.00) on shares of Eton Pharmaceuticals in a research note on Thursday, May 29th. Finally, Craig Hallum boosted their price target on Eton Pharmaceuticals from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th.
Get Our Latest Report on Eton Pharmaceuticals
Eton Pharmaceuticals Stock Up 2.0%
NASDAQ:ETON traded up $0.34 on Friday, hitting $17.04. The stock had a trading volume of 367,343 shares, compared to its average volume of 386,694. The business's fifty day moving average is $14.83 and its 200 day moving average is $15.48. The company has a market cap of $457.01 million, a PE ratio of -106.50 and a beta of 1.13. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 1.14. Eton Pharmaceuticals, Inc. has a 52 week low of $3.96 and a 52 week high of $21.48.
Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The company 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%. On average, equities research analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.
Insider Activity at Eton Pharmaceuticals
In other news, 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 directly owned 629,669 shares of the company's stock, valued at $9,394,661.48. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 34,000 shares of company stock valued at $504,318 over the last three months. 16.03% of the stock is owned by company insiders.
Eton Pharmaceuticals Profile
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Free Report)
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.
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