Hsbc Holdings PLC Invests $1.53 Million in Eton Pharmaceuticals, Inc. $ETON

Key Points

• HSBC Holdings acquired 40,974 shares of Eton Pharmaceuticals during the second quarter, worth approximately $1.53 million and representing about 0.15% of the company. Institutional investors collectively own 27.86% of Eton.
• Analyst sentiment is generally positive, with four Buy ratings, one Hold, and one Sell; the stock has an average rating of “Moderate Buy” and an average price target of $67.50.
• Eton exceeded quarterly expectations, reporting $0.43 EPS versus the $0.19 consensus and revenue of $37.59 million versus estimates of $27.11 million. However, insiders sold 125,000 shares worth roughly $6.2 million over the past 90 days.

Hsbc Holdings PLC bought a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 40,974 shares of the company's stock, valued at approximately $1,531,000. Hsbc Holdings PLC owned approximately 0.15% of Eton Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ETON. PDT Partners LLC bought a new position in Eton Pharmaceuticals during the second quarter worth about $539,000. Canada Pension Plan Investment Board bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $286,000. Legal & General Group Plc acquired a new stake in Eton Pharmaceuticals in the 2nd quarter valued at $258,000. The Manufacturers Life Insurance Company bought a new stake in Eton Pharmaceuticals in the second quarter valued at $253,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Eton Pharmaceuticals during the second quarter worth $476,000. Institutional investors own 27.86% of the company's stock.

Analyst Upgrades and Downgrades

ETON has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 13th. Canaccord Genuity Group increased their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright lifted their price target on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Finally, Zacks Research raised Eton Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Four research 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, the stock has an average rating of "Moderate Buy" and an average target price of $67.50.

Eton Pharmaceuticals Trading Up 1.1%

ETON opened at $60.44 on Tuesday. The firm's fifty day moving average is $45.72 and its two-hundred day moving average is $32.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The firm has a market cap of $1.73 billion, a PE ratio of 159.05 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a twelve month low of $14.27 and a twelve month high of $66.37.

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

Insiders Place Their Bets

In other Eton Pharmaceuticals news, insider David Krempa sold 25,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the completion of the transaction, the insider directly owned 37,025 shares of the company's stock, valued at approximately $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul V. Maier sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 125,000 shares of company stock worth $6,204,250. Corporate insiders own 16.49% of the company's stock.

Eton Pharmaceuticals 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.

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