Geode Capital Management LLC Has $8.45 Million Stock Position in Eton Pharmaceuticals, Inc. $ETON

Geode Capital Management LLC increased its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 98.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 592,865 shares of the company’s stock after buying an additional 294,617 shares during the period. Geode Capital Management LLC owned 2.21% of Eton Pharmaceuticals worth $8,450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ETON. AlphaQuest LLC lifted its position in Eton Pharmaceuticals by 44.4% during the 2nd quarter. AlphaQuest LLC now owns 5,948 shares of the company’s stock worth $85,000 after acquiring an additional 1,830 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Eton Pharmaceuticals by 33.1% in the second quarter. Envestnet Asset Management Inc. now owns 23,050 shares of the company’s stock worth $328,000 after purchasing an additional 5,734 shares during the period. Quantbot Technologies LP bought a new position in shares of Eton Pharmaceuticals in the first quarter worth about $101,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Eton Pharmaceuticals by 8.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 232,532 shares of the company’s stock worth $3,018,000 after purchasing an additional 17,654 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Eton Pharmaceuticals during the 1st quarter valued at approximately $328,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ETON shares. Zacks Research downgraded Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed 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 research note on Friday, September 26th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.67.

Eton Pharmaceuticals Stock Up 1.9%

Shares of ETON opened at $16.81 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $18.23 and a two-hundred day moving average price of $17.02. The stock has a market cap of $450.84 million, a price-to-earnings ratio of -67.24 and a beta of 1.17. Eton Pharmaceuticals, Inc. has a 12 month low of $11.09 and a 12 month high of $23.00.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.20). The company had revenue of $22.46 million during the quarter, compared to the consensus estimate of $20.47 million. Eton Pharmaceuticals had a negative net margin of 9.50% and a negative return on equity of 11.32%. Equities analysts predict 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.