Panoramic Capital LLC Makes New $7.54 Million Investment in Eton Pharmaceuticals, Inc. $ETON

Panoramic Capital LLC acquired a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 208,192 shares of the company’s stock, valued at approximately $7,537,000. Eton Pharmaceuticals accounts for approximately 3.2% of Panoramic Capital LLC’s holdings, making the stock its 13th largest holding.

A number of other hedge funds also recently made changes to their positions in the business. Millennium Management LLC boosted its stake in shares of Eton Pharmaceuticals by 156.3% during 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 stake in Eton Pharmaceuticals by 34.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock valued at $2,274,000 after acquiring an additional 45,341 shares during the period. Jane Street Group LLC raised its stake in Eton Pharmaceuticals by 49.1% in the 1st quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock valued at $1,245,000 after acquiring an additional 31,596 shares during the period. JPMorgan Chase & Co. lifted its holdings in Eton Pharmaceuticals by 114.5% during the 2nd 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 last quarter. Finally, Legal & General Group Plc acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at $41,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Eton Pharmaceuticals Stock Performance

NASDAQ:ETON opened at $62.62 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of 164.79 and a beta of 0.86. The stock has a 50 day simple moving average of $44.02 and a 200 day simple moving average of $31.37. 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 1-year low of $14.27 and a 1-year high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The business had revenue of $37.59 million during the quarter, compared to the consensus estimate of $27.11 million. Research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Craig Hallum raised their target price on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Canaccord Genuity Group lifted their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 14th. B. Riley Financial reiterated a “buy” rating and issued a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Finally, HC Wainwright upped their price target on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 14th. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Insiders Place Their Bets

In other news, insider David Krempa sold 25,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $65.07, for a total value of $1,626,750.00. Following the completion of the sale, the insider owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.49% of the stock is currently owned by company insiders.

Eton Pharmaceuticals 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.