HighTower Advisors LLC Acquires 34,484 Shares of Eton Pharmaceuticals, Inc. $ETON

Key Points

• HighTower Advisors increased its Eton Pharmaceuticals stake by 187.2% in the second quarter, adding 34,484 shares to own 52,907 shares worth approximately $1.9 million. Institutional investors collectively held 27.86% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $67.50. Several firms recently raised their targets to between $62 and $70.
• Eton reported quarterly earnings of $0.43 per share, beating estimates of $0.19, while revenue of $37.59 million exceeded forecasts of $27.11 million. However, insiders sold 125,000 shares worth about $6.2 million over the preceding 90 days.

HighTower Advisors LLC boosted its holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 187.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,907 shares of the company's stock after buying an additional 34,484 shares during the quarter. HighTower Advisors LLC owned approximately 0.19% of Eton Pharmaceuticals worth $1,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ETON. Quarry LP bought a new position in shares of Eton Pharmaceuticals in the third quarter worth about $37,000. Legal & General Group Plc acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $41,000. Toth Financial Advisory Corp bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at approximately $43,000. Caitong International Asset Management Co. Ltd acquired a new position in Eton Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, Persistent Asset Partners Ltd acquired a new position in Eton Pharmaceuticals during the 2nd quarter worth approximately $90,000. Institutional investors own 27.86% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ETON. Weiss Ratings restated a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Craig Hallum upped their price target on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. B. Riley Financial reiterated 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. Canaccord Genuity Group increased their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Finally, Wall Street Zen raised Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $67.50.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $57.08 on Monday. The firm's 50 day simple moving average is $49.92 and its 200 day simple moving average is $34.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. Eton Pharmaceuticals, Inc. has a one year low of $14.27 and a one year high of $66.37. The company has a market cap of $1.63 billion, a PE ratio of 150.21 and a beta of 0.90.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.24. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. On average, research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul V. Maier sold 50,000 shares of the company's stock in a transaction that occurred 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 directly owned 59,745 shares in the company, valued at $3,529,137.15. This represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Krempa sold 25,000 shares of the 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 sale, the insider directly owned 37,025 shares of the company's stock, valued at $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 125,000 shares of company stock valued at $6,204,250 over the last 90 days. 16.49% of the stock is owned by insiders.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for underserved patient populations, with an emphasis on pediatric, rare disease and other difficult-to-treat conditions. The company generally pursues products with established clinical or regulatory pathways and works to bring them to market through its own commercial operations or strategic partnerships.

Eton's marketed portfolio includes Eprontia, an oral solution formulation of topiramate used in the treatment of certain seizure disorders; Biorphen, an injectable phenylephrine product used to treat clinically important low blood pressure; and Alkindi Sprinkle, a hydrocortisone granule product for replacement therapy in children with adrenal insufficiency.

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