Sigma Planning Corp Takes Position in Eton Pharmaceuticals, Inc. $ETON

Key Points

• Sigma Planning Corp acquired 30,000 Eton Pharmaceuticals shares worth approximately $1.09 million, while several other institutional investors also initiated positions. Institutional investors and hedge funds now own 27.86% of the company.
• Eton reported quarterly earnings of $0.43 per share, beating estimates of $0.19, while revenue of $37.59 million exceeded expectations of $27.11 million.
• Analysts largely remain bullish, with a consensus “Moderate Buy” rating and an average price target of $67.50. However, insiders sold 125,000 shares worth about $6.2 million over the past three months.

Sigma Planning Corp acquired a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the company's stock, valued at approximately $1,086,000. Sigma Planning Corp owned approximately 0.10% of Eton Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in Eton Pharmaceuticals in the 2nd quarter valued at $68,629,000. Nantahala Capital Management LLC bought a new position in Eton Pharmaceuticals during the 2nd quarter worth about $42,569,426. Pillsbury Lake Capital LLC acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $14,015,083. Soleus Capital Management L.P. acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $4,061,000. Finally, Millennium Management LLC lifted its holdings in shares of Eton Pharmaceuticals by 156.3% in the first quarter. Millennium Management LLC now owns 355,929 shares of the company's stock valued at $4,620,000 after purchasing an additional 217,042 shares in the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, 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 sale, the insider owned 37,025 shares in the company, valued at $2,409,216.75. This trade represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company's stock, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 125,000 shares of company stock valued at $6,204,250. 16.49% of the stock is currently owned by corporate insiders.

Eton Pharmaceuticals Trading Down 0.0%

Shares of NASDAQ:ETON opened at $60.43 on Wednesday. The company's 50-day moving average price is $46.26 and its two-hundred day moving average price is $32.65. 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 one year low of $14.27 and a one year high of $66.37. The stock has a market capitalization of $1.73 billion, a PE ratio of 159.03 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The company had revenue of $37.59 million during the quarter, compared to analysts' expectations of $27.11 million. On average, equities analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETON. HC Wainwright upped their price objective on Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. B. Riley Financial reissued a "buy" rating and issued a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Craig Hallum upped their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Finally, Canaccord Genuity Group raised their price target on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.50.

Eton Pharmaceuticals Company Profile

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.

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