JPMorgan Chase & Co. Has $7.64 Million Position in Eton Pharmaceuticals, Inc. $ETON

JPMorgan Chase & Co. boosted its stake in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 44.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,417 shares of the company’s stock after acquiring an additional 108,837 shares during the period. JPMorgan Chase & Co.’s holdings in Eton Pharmaceuticals were worth $7,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Man Group plc grew its holdings 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 worth $338,000 after purchasing an additional 1,350 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Eton Pharmaceuticals in the third quarter valued at about $30,000. Quarry LP acquired a new position in Eton Pharmaceuticals in the third quarter valued at about $37,000. Ameritas Investment Partners Inc. bought a new stake in Eton Pharmaceuticals during the second quarter worth about $37,000. Finally, Legal & General Group Plc bought a new stake in Eton Pharmaceuticals during the second quarter worth about $41,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ETON. HC Wainwright raised their target price on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a “buy” rating in a report on Friday, March 20th. Zacks Research raised shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, B. Riley Financial boosted their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.33.

Eton Pharmaceuticals Stock Performance

Eton Pharmaceuticals stock opened at $22.58 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.83. The stock has a market cap of $615.98 million, a PE ratio of -125.44 and a beta of 1.19. Eton Pharmaceuticals, Inc. has a 12-month low of $11.09 and a 12-month high of $24.46. The business’s 50-day moving average price is $17.67 and its two-hundred day moving average price is $17.62.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, March 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Eton Pharmaceuticals had a negative return on equity of 2.60% and a negative net margin of 5.75%.The company had revenue of $21.28 million during the quarter, compared to the consensus estimate of $20.58 million. As a group, analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

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.