Walleye Capital LLC Invests $2.02 Million in Eton Pharmaceuticals, Inc. $ETON

Key Points

• Walleye Capital LLC opened a new position in Eton Pharmaceuticals during the first quarter, buying 81,963 shares worth about $2.02 million.
• Insider selling has been notable, with executives and directors selling 150,000 shares totaling roughly $4.85 million over the past 90 days.
• Eton Pharmaceuticals reported mixed quarterly results, missing EPS estimates but topping revenue expectations, while analysts remain split with an average rating of “Moderate Buy” and a consensus target price of $45.75.

Walleye Capital LLC bought a new stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 81,963 shares of the company's stock, valued at approximately $2,023,000. Walleye Capital LLC owned 0.30% of Eton Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP bought a new stake in Eton Pharmaceuticals during the 3rd quarter valued at about $37,000. Legal & General Group Plc bought a new position in Eton Pharmaceuticals in the 2nd quarter worth about $41,000. Caitong International Asset Management Co. Ltd bought a new position in Eton Pharmaceuticals in the 4th quarter worth about $44,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $74,000. Finally, SG Americas Securities LLC purchased a new position in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $109,000. 27.86% of the stock is currently owned by institutional investors.

Insider Transactions at Eton Pharmaceuticals

In related news, insider David Krempa sold 19,679 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total value of $619,298.13. Following the transaction, the insider owned 25,249 shares in the company, valued at approximately $794,586.03. This represents a 43.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares of the company's stock, valued at $1,624,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 150,000 shares of company stock valued at $4,853,921 in the last ninety days. Corporate insiders own 16.49% of the company's stock.

Eton Pharmaceuticals Trading Up 1.3%

NASDAQ ETON opened at $44.14 on Friday. Eton Pharmaceuticals, Inc. has a one year low of $13.78 and a one year high of $44.91. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -630.48 and a beta of 0.86. The company's 50-day simple moving average is $34.43 and its two-hundred day simple moving average is $25.31.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%.The company had revenue of $24.27 million for the quarter, compared to analysts' expectations of $22.31 million. Equities analysts forecast that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of Eton Pharmaceuticals in a research note on Thursday, July 16th. They set a "buy" rating and a $60.00 price target for the company. HC Wainwright increased their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Wall Street Zen upgraded Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Finally, Zacks Research cut Eton Pharmaceuticals from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.