PDT Partners LLC Buys Shares of 25,755 Eton Pharmaceuticals, Inc. $ETON

Key Points

• PDT Partners LLC has made a new investment of $334,000 in Eton Pharmaceuticals by purchasing 25,755 shares, representing 0.10% of the company.
• Eton Pharmaceuticals' stock increased by 2.4%, currently priced at $17.87, with a market cap of approximately $479.27 million.
• Several analysts have issued varying ratings and price targets for Eton Pharmaceuticals, with an average target price of $29.67 and a consensus rating of "Buy".

PDT Partners LLC purchased a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,755 shares of the company's stock, valued at approximately $334,000. PDT Partners LLC owned approximately 0.10% of Eton Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Advisers LP bought a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at $662,000. Millennium Management LLC bought a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at $1,850,000. Balyasny Asset Management L.P. purchased a new stake in Eton Pharmaceuticals during the fourth quarter valued at $158,000. Jane Street Group LLC lifted its holdings in Eton Pharmaceuticals by 328.6% in the fourth quarter. Jane Street Group LLC now owns 64,323 shares of the company's stock valued at $857,000 after acquiring an additional 49,317 shares during the period. Finally, Two Sigma Investments LP purchased a new position in Eton Pharmaceuticals in the fourth quarter worth about $1,498,000. 27.86% of the stock is owned by institutional investors.

Insider Activity

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

Eton Pharmaceuticals Stock Performance

ETON traded down $0.08 during midday trading on Wednesday, reaching $17.78. The company had a trading volume of 27,405 shares, compared to its average volume of 354,956. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average of $15.87 and a two-hundred day moving average of $15.53. The company has a market cap of $476.69 million, a P/E ratio of -110.93 and a beta of 1.10. Eton Pharmaceuticals, Inc. has a 1 year low of $4.73 and a 1 year high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.09). Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%.The company had revenue of $18.93 million during the quarter, compared to analysts' expectations of $16.71 million. As a group, equities research analysts predict that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ETON shares. Craig Hallum upped their price target 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. Wall Street Zen cut shares of Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. B. Riley reiterated a "buy" rating and set a $26.00 price target (up previously from $24.00) on shares of Eton Pharmaceuticals in a research note on Friday, May 16th. Finally, HC Wainwright reissued a "buy" rating and set a $35.00 price objective (up previously from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $29.67.

Eton Pharmaceuticals Company 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.