Pillsbury Lake Capital LLC Invests $14.02 Million in Eton Pharmaceuticals, Inc. $ETON

Key Points

• Pillsbury Lake Capital purchased 387,157 Eton Pharmaceuticals shares worth approximately $14.02 million, giving it a 1.41% stake; institutional investors collectively own 27.86% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $67.50, despite ratings ranging from sell to strong buy.
• Eton exceeded quarterly expectations, reporting $0.43 in EPS versus a $0.19 estimate and $37.59 million in revenue versus $27.11 million expected. However, insiders sold 125,000 shares worth $6.20 million over the past 90 days, while the stock recently fell 4.6% to $59.78.

Pillsbury Lake Capital LLC purchased a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 387,157 shares of the company's stock, valued at approximately $14,015,083. Eton Pharmaceuticals comprises approximately 0.0% of Pillsbury Lake Capital LLC's portfolio, making the stock its 6th biggest holding. Pillsbury Lake Capital LLC owned approximately 1.41% of Eton Pharmaceuticals as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP purchased a new position in shares of Eton Pharmaceuticals during the 3rd quarter valued at approximately $37,000. Persistent Asset Partners Ltd acquired a new stake in Eton Pharmaceuticals in the second quarter worth about $90,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Eton Pharmaceuticals during the 4th quarter valued at about $44,000. Legal & General Group Plc acquired a new stake in Eton Pharmaceuticals in the 2nd quarter valued at about $41,000. Finally, State of Wyoming acquired a new stake in shares of Eton Pharmaceuticals in the second quarter valued at approximately $107,000. Institutional investors own 27.86% of the company's stock.

Analyst Ratings Changes

ETON has been the topic of a number of analyst reports. Zacks Research raised shares of Eton Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Monday. HC Wainwright upped their price objective on Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen raised shares of Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. Finally, Craig Hallum upped their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Four equities 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, Eton Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $67.50.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the sale, the insider owned 37,025 shares of the company's stock, valued at $2,409,216.75. The trade was a 40.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul V. Maier sold 50,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the transaction, the director directly owned 59,745 shares in the company, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 125,000 shares of company stock worth $6,204,250 in the last ninety days. 16.49% of the stock is currently owned by insiders.

Eton Pharmaceuticals Stock Down 4.6%

Shares of Eton Pharmaceuticals stock traded down $2.89 on Friday, reaching $59.78. 588,695 shares of the company were exchanged, compared to its average volume of 426,884. 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, Inc. has a 1-year low of $14.27 and a 1-year high of $66.37. The company has a market cap of $1.71 billion, a P/E ratio of 157.32 and a beta of 0.86. The stock's 50 day moving average price is $44.62 and its 200-day moving average price is $31.70.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.43 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 business had revenue of $37.59 million during the quarter, compared to analyst estimates of $27.11 million. As a group, equities analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

About Eton Pharmaceuticals

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.