Connor Clark & Lunn Investment Management Ltd. Has $3.17 Million Stock Position in Eton Pharmaceuticals, Inc. $ETON

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 4.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 222,083 shares of the company’s stock after selling 10,449 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Eton Pharmaceuticals were worth $3,165,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ETON. AlphaQuest LLC acquired a new position in Eton Pharmaceuticals in the 1st quarter valued at approximately $53,000. Quantbot Technologies LP purchased a new position in shares of Eton Pharmaceuticals during the 1st quarter valued at $101,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Eton Pharmaceuticals in the first quarter worth $174,000. Wellington Management Group LLP purchased a new stake in shares of Eton Pharmaceuticals during the first quarter worth $328,000. Finally, Envestnet Asset Management Inc. boosted its position in Eton Pharmaceuticals by 33.1% during the second quarter. Envestnet Asset Management Inc. now owns 23,050 shares of the company’s stock valued at $328,000 after purchasing an additional 5,734 shares during the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

Analysts Set New Price Targets

ETON has been the topic of several research reports. Zacks Research raised Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.67.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock opened at $16.94 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 1.19. The firm has a fifty day simple moving average of $18.78 and a 200-day simple moving average of $17.12. The stock has a market capitalization of $454.33 million, a price-to-earnings ratio of -67.76 and a beta of 1.12. Eton Pharmaceuticals, Inc. has a 1-year low of $8.43 and a 1-year high of $23.00.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.20). The firm had revenue of $22.46 million during the quarter, compared to analyst estimates of $20.47 million. Eton Pharmaceuticals had a negative net margin of 9.50% and a negative return on equity of 11.32%. On average, sell-side analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current year.

Insider Activity at Eton Pharmaceuticals

In other news, CFO James R. Gruber sold 39,082 shares of Eton Pharmaceuticals stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $16.16, for a total value of $631,565.12. Following the transaction, the chief financial officer directly owned 205,299 shares in the company, valued at approximately $3,317,631.84. The trade was a 15.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 16.03% of the company’s stock.

Eton Pharmaceuticals Company Profile

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.