Bank of Nova Scotia Takes Position in Eton Pharmaceuticals, Inc. $ETON

Bank of Nova Scotia bought a new stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $365,000.

Several other large investors have also recently added to or reduced their stakes in ETON. Quarry LP acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth approximately $37,000. Legal & General Group Plc acquired a new position in Eton Pharmaceuticals during the second quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in Eton Pharmaceuticals during the fourth quarter worth approximately $44,000. China Universal Asset Management Co. Ltd. purchased a new position in Eton Pharmaceuticals during the fourth quarter worth approximately $74,000. Finally, SG Americas Securities LLC acquired a new position in shares of Eton Pharmaceuticals in the 4th quarter valued at $109,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total value of $619,298.13. Following the transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $794,586.03. This represents a 43.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction 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 completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 150,000 shares of company stock valued at $4,853,921. 16.49% of the stock is owned by insiders.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $49.03 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The company’s fifty day moving average price is $35.70 and its two-hundred day moving average price is $26.35. The firm has a market capitalization of $1.34 billion, a P/E ratio of -700.33 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a 12 month low of $13.78 and a 12 month high of $50.18.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The business had revenue of $24.27 million for the quarter, compared to analyst estimates of $22.31 million. On average, research analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Canaccord Genuity Group assumed coverage on Eton Pharmaceuticals in a research report on Thursday, July 16th. They issued a “buy” rating and a $60.00 target price on the stock. Zacks Research cut Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.50.

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.