Nantahala Capital Management LLC Buys 57,468 Shares of Eton Pharmaceuticals, Inc. $ETON

Key Points

• Nantahala Capital Management LLC increased its stake in Eton Pharmaceuticals by 5.1%, acquiring an additional 57,468 shares, totaling 1,175,951 shares, which represents 0.6% of its portfolio.
• Eton Pharmaceuticals reported a loss of $0.10 per share for the last quarter, missing analysts' expectations, while revenue of $18.93 million surpassed the forecasted $16.71 million.
• Multiple analysts have re-evaluated Eton's stock, with buy ratings and increased price targets, while Wall Street maintains a consensus target price of $29.67 for the stock.

Nantahala Capital Management LLC boosted its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175,951 shares of the company's stock after acquiring an additional 57,468 shares during the quarter. Eton Pharmaceuticals accounts for 0.6% of Nantahala Capital Management LLC's portfolio, making the stock its 19th largest position. Nantahala Capital Management LLC owned approximately 4.38% of Eton Pharmaceuticals worth $15,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Mink Brook Asset Management LLC bought a new stake in Eton Pharmaceuticals in the 4th quarter valued at $6,071,000. Parkman Healthcare Partners LLC lifted its position in Eton Pharmaceuticals by 6.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company's stock valued at $3,688,000 after acquiring an additional 16,664 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Eton Pharmaceuticals by 8.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 232,532 shares of the company's stock valued at $3,018,000 after acquiring an additional 17,654 shares in the last quarter. Millennium Management LLC bought a new stake in Eton Pharmaceuticals in the 4th quarter valued at $1,850,000. Finally, Two Sigma Investments LP bought a new stake in Eton Pharmaceuticals in the 4th quarter valued at $1,498,000. 27.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ETON has been the topic of several research reports. Craig Hallum boosted their price objective on shares of Eton Pharmaceuticals from $26.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. B. Riley reiterated 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. HC Wainwright reiterated 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, Wall Street Zen lowered shares of Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $29.67.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock traded up $0.42 during trading on Thursday, hitting $17.87. 164,515 shares of the stock were exchanged, compared to its average volume of 359,505. The stock has a market capitalization of $479.27 million, a price-to-earnings ratio of -111.69 and a beta of 1.10. The company has a fifty day moving average price of $15.58 and a 200-day moving average price of $15.47. Eton Pharmaceuticals, Inc. has a 1-year low of $4.52 and a 1-year high of $21.48. 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 (NASDAQ:ETON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $18.93 million for the quarter, compared to analyst estimates 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 predict that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CFO James R. Gruber sold 2,631 shares of Eton Pharmaceuticals stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $16.02, for a total transaction of $42,148.62. Following the completion of the sale, the chief financial officer owned 204,753 shares of the company's stock, valued at approximately $3,280,143.06. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Krempa sold 10,223 shares of Eton Pharmaceuticals stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $14.73, for a total transaction of $150,584.79. Following the sale, the insider directly owned 612,646 shares of the company's stock, valued at $9,024,275.58. The trade was a 1.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,713 shares of company stock valued at $1,178,031 in the last ninety days. 14.89% of the stock is currently owned by insiders.

About Eton Pharmaceuticals

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.