Westside Investment Management Inc. Sells 81,572 Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Westside Investment Management Inc. lessened its stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 493,650 shares of the company's stock after selling 81,572 shares during the period. Eton Pharmaceuticals comprises about 1.4% of Westside Investment Management Inc.'s holdings, making the stock its 13th largest holding. Westside Investment Management Inc. owned approximately 1.84% of Eton Pharmaceuticals worth $6,407,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Mink Brook Asset Management LLC bought a new stake in Eton Pharmaceuticals in the 4th quarter worth $6,071,000. Cannell Capital LLC purchased a new stake in shares of Eton Pharmaceuticals during the fourth quarter worth about $5,079,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Eton Pharmaceuticals by 230.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,878 shares of the company's stock worth $2,862,000 after purchasing an additional 149,864 shares during the last quarter. Millennium Management LLC purchased a new position in Eton Pharmaceuticals during the 4th quarter valued at about $1,850,000. Finally, Nantahala Capital Management LLC increased its holdings in Eton Pharmaceuticals by 12.0% during the 4th quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company's stock valued at $14,898,000 after purchasing an additional 119,750 shares during the period. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eton Pharmaceuticals

In other news, insider David Krempa sold 16,977 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $14.92, for a total transaction of $253,296.84. Following the sale, the insider owned 629,669 shares in the company, valued at approximately $9,394,661.48. The trade was a 2.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 34,000 shares of company stock valued at $504,318 in the last ninety days. 16.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ETON. B. Riley reiterated a "buy" rating and issued a $26.00 price objective (up from $24.00) on shares of Eton Pharmaceuticals in a research report on Friday, May 16th. Craig Hallum raised their price target on Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, HC Wainwright reissued a "buy" rating and set a $35.00 price objective (up from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th.

Eton Pharmaceuticals Stock Up 0.3%

ETON traded up $0.05 on Thursday, hitting $14.53. The company had a trading volume of 243,255 shares, compared to its average volume of 256,792. The stock has a fifty day simple moving average of $16.60 and a 200-day simple moving average of $15.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.97 and a quick ratio of 1.43. The firm has a market capitalization of $389.56 million, a P/E ratio of -80.69 and a beta of 1.18. Eton Pharmaceuticals, Inc. has a 52-week low of $3.22 and a 52-week high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Eton Pharmaceuticals had a negative return on equity of 3.15% and a negative net margin of 9.49%. The firm had revenue of $17.28 million during the quarter, compared to the consensus estimate of $14.33 million. As a group, equities analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

About Eton Pharmaceuticals

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.