Paul Maier Sells 50,000 Shares of Eton Pharmaceuticals (NASDAQ:ETON) Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Director Paul Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the sale, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Eton Pharmaceuticals Price Performance

ETON stock traded down $2.89 on Friday, reaching $59.78. 588,693 shares of the company’s stock were exchanged, compared to its average volume of 426,884. The stock has a fifty day moving average of $44.62 and a 200-day moving average of $31.70. The firm has a market cap of $1.71 billion, a PE ratio of 157.32 and a beta of 0.86. 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 twelve month low of $14.27 and a twelve month high of $66.37.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ETON. Millennium Management LLC raised 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 buying an additional 217,042 shares during the last quarter. Goldman Sachs Group Inc. grew 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 last quarter. Jane Street Group LLC grew 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 last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 129,467 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Eton Pharmaceuticals during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Wall Street Analysts Forecast Growth

ETON has been the subject of several recent analyst reports. Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. HC Wainwright increased their target price on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 14th. Canaccord Genuity Group increased their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.50.

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.