PDT Partners LLC Purchases New Holdings in Eton Pharmaceuticals, Inc. $ETON

PDT Partners LLC purchased a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,891 shares of the company’s stock, valued at approximately $539,000. PDT Partners LLC owned approximately 0.05% of Eton Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $68,629,000. Soleus Capital Management L.P. acquired a new position in Eton Pharmaceuticals during the second quarter worth $4,061,000. Millennium Management LLC increased its holdings in Eton Pharmaceuticals by 156.3% during the first 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. Oberweis Asset Management Inc. bought a new stake in Eton Pharmaceuticals during the third quarter worth $4,180,000. Finally, BNP Paribas Financial Markets lifted its stake in Eton Pharmaceuticals by 162.0% in the third quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company’s stock valued at $4,993,000 after acquiring an additional 142,094 shares during the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

Insider Activity at Eton Pharmaceuticals

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the transaction, the director owned 50,000 shares in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Krempa sold 25,000 shares of the stock in a transaction that occurred on 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 trade represents a 40.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 16.49% of the stock is currently owned by corporate insiders.

Eton Pharmaceuticals Stock Performance

NASDAQ ETON opened at $62.67 on Friday. The stock has a market cap of $1.79 billion, a PE ratio of 164.92 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The firm has a 50-day moving average of $44.62 and a 200-day moving average of $31.70. Eton Pharmaceuticals, Inc. has a 52-week low of $14.27 and a 52-week 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 for the quarter, beating the consensus estimate of $0.19 by $0.24. The firm had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. On average, sell-side analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. B. Riley Financial restated a “buy” rating and set a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Craig Hallum boosted their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. HC Wainwright upped their price objective on Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, Zacks Research raised 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 given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.