Eton Pharmaceuticals (NASDAQ:ETON) Director Sells $2,953,500.00 in Stock

Key Points

• Director Paul Maier sold 50,000 Eton Pharmaceuticals shares at an average price of $59.07, generating $2.95 million and reducing his position by 45.56% to 59,745 shares.
• Eton reported quarterly EPS of $0.43, exceeding the $0.19 analyst consensus, while revenue of $37.59 million also surpassed estimates. Shares closed at $59.78, near their 52-week high of $66.37.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $67.50; several firms recently raised targets to $70.

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) Director Paul Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated 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 sale, the director owned 59,745 shares in the company, valued at $3,529,137.15. This trade represents a 45.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock traded down $2.89 on Friday, hitting $59.78. The stock had a trading volume of 588,693 shares, compared to its average volume of 426,884. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 157.32 and a beta of 0.86. 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 52-week low of $14.27 and a 52-week high of $66.37. The company'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 released its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $27.11 million. On average, research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several institutional investors have recently bought and sold shares of ETON. Millennium Management LLC lifted its stake in shares of Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company's stock worth $4,620,000 after acquiring an additional 217,042 shares during the period. Goldman Sachs Group Inc. raised its holdings in Eton Pharmaceuticals by 34.9% during the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company's stock worth $2,274,000 after purchasing an additional 45,341 shares in the last quarter. Jane Street Group LLC lifted its position in Eton Pharmaceuticals by 49.1% in the first quarter. Jane Street Group LLC now owns 95,919 shares of the company's stock valued at $1,245,000 after purchasing an additional 31,596 shares during the period. JPMorgan Chase & Co. lifted its position in Eton Pharmaceuticals by 114.5% in the second quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company's stock valued at $3,457,000 after purchasing an additional 129,467 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Eton Pharmaceuticals in the 2nd quarter valued at approximately $41,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. HC Wainwright raised their price objective on shares of 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 reiterated a "buy" rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Craig Hallum raised their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wall Street Zen raised Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Eton Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $67.50.

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.

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