Jacobs Levy Equity Management Inc. Invests $704,000 in Eton Pharmaceuticals, Inc. $ETON

Key Points

• Jacobs Levy Equity Management Inc. invested $704,000 in Eton Pharmaceuticals, acquiring 54,275 shares, representing approximately 0.20% of the company.
• Multiple institutional investors, including AlphaQuest LLC and Cannon Global Investment Management LLC, have also bought stakes in Eton Pharmaceuticals recently, increasing institutional ownership to 27.86%.
• Analysts have mixed ratings for Eton Pharmaceuticals, with one firm downgrading it from a "buy" to a "hold," while others maintain "buy" ratings with price targets ranging from $26.00 to $35.00.

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 54,275 shares of the company's stock, valued at approximately $704,000. Jacobs Levy Equity Management Inc. owned approximately 0.20% of Eton Pharmaceuticals at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AlphaQuest LLC bought a new stake in Eton Pharmaceuticals in the 1st quarter worth approximately $53,000. Quantbot Technologies LP purchased a new position in shares of Eton Pharmaceuticals in the 1st quarter worth approximately $101,000. Jefferies Financial Group Inc. purchased a new position in shares of Eton Pharmaceuticals in the 4th quarter worth approximately $133,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Eton Pharmaceuticals by 18.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company's stock worth $141,000 after purchasing an additional 1,634 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of 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 worth $148,000 after purchasing an additional 10,899 shares during the period. Institutional investors own 27.86% of the company's stock.

Eton Pharmaceuticals Stock Up 4.4%

Shares of ETON traded up $0.78 during trading hours on Thursday, hitting $18.46. The company had a trading volume of 268,028 shares, compared to its average volume of 199,952. The company has a market capitalization of $495.06 million, a PE ratio of -115.38 and a beta of 1.10. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 1.14. Eton Pharmaceuticals, Inc. has a one year low of $5.35 and a one year high of $21.48. The company's fifty day moving average price is $16.26 and its two-hundred day moving average price is $15.66.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $16.71 million. Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%. As a group, equities analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ETON has been the subject of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $35.00 price objective (up previously from $33.00) on shares of Eton Pharmaceuticals in a report on Thursday, May 29th. Wall Street Zen cut Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $29.67.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, CFO James R. Gruber sold 2,631 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $16.02, for a total transaction of $42,148.62. Following the sale, the chief financial officer owned 204,753 shares in the company, valued at approximately $3,280,143.06. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.03% of the company's stock.

Eton Pharmaceuticals Profile

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.