Nantahala Capital Management LLC Invests $42.57 Million in Eton Pharmaceuticals, Inc. $ETON

Nantahala Capital Management LLC bought a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 1,175,951 shares of the company’s stock, valued at approximately $42,569,426. Eton Pharmaceuticals comprises about 0.0% of Nantahala Capital Management LLC’s holdings, making the stock its 9th largest holding.

A number of other institutional investors have also recently bought and sold shares of ETON. Deutsche Bank AG increased its position in Eton Pharmaceuticals by 4.9% during the fourth quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock worth $309,000 after purchasing an additional 850 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Eton Pharmaceuticals by 11.1% in the 4th quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock valued at $210,000 after purchasing an additional 1,244 shares during the last quarter. State of Wyoming boosted its holdings in shares of Eton Pharmaceuticals by 16.4% in the 1st quarter. State of Wyoming now owns 9,498 shares of the company’s stock valued at $234,000 after purchasing an additional 1,337 shares during the last quarter. Man Group plc grew its stake in shares of Eton Pharmaceuticals by 6.0% during the 2nd quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after buying an additional 1,350 shares during the period. Finally, Quarry LP purchased a new stake in shares of Eton Pharmaceuticals during the 3rd quarter valued at $37,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ETON. HC Wainwright upped their price objective on Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Zacks Research upgraded Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Canaccord Genuity Group boosted their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Craig Hallum upped their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, B. Riley Financial restated a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Eton Pharmaceuticals Price Performance

ETON opened at $59.78 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.52 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 has a 50 day moving average of $45.17 and a two-hundred day moving average of $31.90. The company has a market cap of $1.71 billion, a P/E ratio of 157.32 and a beta of 0.86.

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

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of the firm’s 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 transaction, the director directly owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Krempa sold 25,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the transaction, the insider owned 37,025 shares in the company, valued at approximately $2,409,216.75. This represents a 40.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 125,000 shares of company stock worth $6,204,250. Corporate insiders own 16.49% of the company’s stock.

Eton Pharmaceuticals Company 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.