Squarepoint Ops LLC Invests $2.16 Million in Eton Pharmaceuticals, Inc. $ETON

Squarepoint Ops LLC bought a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 59,562 shares of the company's stock, valued at approximately $2,156,000. Squarepoint Ops LLC owned about 0.21% of Eton Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ETON. BlackRock Inc. acquired a new position in shares of Eton Pharmaceuticals in the second quarter worth about $68,629,000. EcoR1 Capital LLC lifted its position in shares of Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company's stock valued at $53,603,000 after acquiring an additional 141,394 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in Eton Pharmaceuticals in the 2nd quarter worth approximately $42,569,426. Pillsbury Lake Capital LLC purchased a new position in Eton Pharmaceuticals during the 2nd quarter worth approximately $14,015,083. Finally, Panoramic Capital LLC purchased a new position in Eton Pharmaceuticals during the 2nd quarter worth approximately $7,537,000. Institutional investors and hedge funds own 27.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ETON shares. Craig Hallum raised their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Canaccord Genuity Group increased their price objective on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Wall Street Zen upgraded Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th. B. Riley Financial restated a "buy" rating and set a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.50.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ:ETON opened at $57.62 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41. Eton Pharmaceuticals, Inc. has a 1 year low of $14.27 and a 1 year high of $66.37. The business has a fifty day simple moving average of $50.31 and a 200 day simple moving average of $35.27. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 151.63 and a beta of 0.90.

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

Insider Activity

In related news, Director Paul V. Maier sold 50,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the transaction, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. This represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Krempa sold 25,000 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 37,025 shares in the company, valued at approximately $2,409,216.75. The trade was a 40.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 125,000 shares of company stock worth $6,204,250 in the last three months. 16.49% of the stock is owned by insiders.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for underserved patient populations, with an emphasis on pediatric, rare disease and other difficult-to-treat conditions. The company generally pursues products with established clinical or regulatory pathways and works to bring them to market through its own commercial operations or strategic partnerships.

Eton's marketed portfolio includes Eprontia, an oral solution formulation of topiramate used in the treatment of certain seizure disorders; Biorphen, an injectable phenylephrine product used to treat clinically important low blood pressure; and Alkindi Sprinkle, a hydrocortisone granule product for replacement therapy in children with adrenal insufficiency.

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