Hsbc Holdings PLC Makes New $1.53 Million Investment in Eton Pharmaceuticals, Inc. $ETON

Key Points

• HSBC Holdings purchased 40,974 shares of Eton Pharmaceuticals during the second quarter, valued at approximately $1.53 million and representing about 0.15% of the company. Institutional investors and hedge funds collectively own 27.86% of Eton.
• Eton insiders sold 125,000 shares worth approximately $6.2 million over the past three months, including sizable sales by Director Jennifer Mckie Adams and insider David Krempa.
• Eton reported quarterly EPS of $0.43, exceeding estimates of $0.19, while revenue of $37.59 million surpassed expectations of $27.11 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.50.

Hsbc Holdings PLC purchased a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 40,974 shares of the company's stock, valued at approximately $1,531,000. Hsbc Holdings PLC owned about 0.15% of Eton Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Eton Pharmaceuticals in the 3rd quarter valued at approximately $37,000. Persistent Asset Partners Ltd bought a new position in shares of Eton Pharmaceuticals in the second quarter worth $90,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Eton Pharmaceuticals in the fourth quarter worth $44,000. Legal & General Group Plc acquired a new position in shares of Eton Pharmaceuticals during the second quarter valued at $41,000. Finally, State of Wyoming bought a new stake in shares of Eton Pharmaceuticals during the second quarter valued at about $107,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eton Pharmaceuticals

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $1,624,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Krempa sold 25,000 shares of the stock in a transaction on Monday, August 24th. The shares were 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 owned 37,025 shares of the company's stock, valued at $2,409,216.75. This trade represents a 40.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 125,000 shares of company stock valued at $6,204,250 in the last three months. 16.49% of the stock is currently owned by corporate insiders.

Eton Pharmaceuticals Stock Down 1.4%

NASDAQ ETON opened at $57.08 on Friday. Eton Pharmaceuticals, Inc. has a 12 month low of $14.27 and a 12 month high of $66.37. The company has a market capitalization of $1.63 billion, a P/E ratio of 150.21 and a beta of 0.90. The company's 50 day simple moving average is $49.92 and its 200 day simple moving average is $34.87. 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 (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.24. The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. Equities research analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ETON shares. Wall Street Zen raised shares of Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. B. Riley Financial reissued a "buy" rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. HC Wainwright boosted 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. 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 research note on Tuesday, July 28th. Finally, Zacks Research upgraded shares of Eton Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.50.

About Eton Pharmaceuticals

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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