Eton Pharmaceuticals, Inc. $ETON Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,321 shares of the company’s stock after selling 42,379 shares during the period. Renaissance Technologies LLC owned approximately 0.60% of Eton Pharmaceuticals worth $4,031,000 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. Deutsche Bank AG grew its stake in shares of Eton Pharmaceuticals by 4.9% during the fourth quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock valued at $309,000 after acquiring an additional 850 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Eton Pharmaceuticals by 11.1% in the fourth quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock worth $210,000 after acquiring an additional 1,244 shares in the last quarter. State of Wyoming lifted its stake in shares of Eton Pharmaceuticals by 16.4% in the first quarter. State of Wyoming now owns 9,498 shares of the company’s stock worth $234,000 after acquiring an additional 1,337 shares in the last quarter. Man Group plc boosted its holdings in Eton Pharmaceuticals by 6.0% in the second quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Quarry LP purchased a new position in Eton Pharmaceuticals in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ETON shares. Canaccord Genuity Group started coverage on Eton Pharmaceuticals in a report on Thursday, July 16th. They set a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright raised their price target on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Zacks Research cut shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One equities research 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of Eton Pharmaceuticals stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction of $619,298.13. Following the sale, the insider owned 25,249 shares of the company’s stock, valued at $794,586.03. The trade was a 43.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 150,000 shares of company stock worth $4,853,921 in the last ninety days. 16.49% of the stock is owned by company insiders.

Eton Pharmaceuticals Trading Down 3.4%

Shares of NASDAQ:ETON opened at $44.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $37.36 and its 200 day moving average price is $27.54. The company has a market cap of $1.22 billion, a PE ratio of -637.05 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a fifty-two week low of $14.27 and a fifty-two week high of $50.18.

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

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.