Pillsbury Lake Capital LLC Purchases New Holdings in Eton Pharmaceuticals, Inc. $ETON

Pillsbury Lake Capital LLC acquired a new position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 387,157 shares of the company’s stock, valued at approximately $14,015,083,000. Eton Pharmaceuticals accounts for about 3.8% of Pillsbury Lake Capital LLC’s portfolio, making the stock its 6th largest holding.

Several other large investors have also recently bought and sold shares of ETON. Opaleye Management Inc. increased its stake in shares of Eton Pharmaceuticals by 0.3% in the 2nd quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock valued at $40,755,000 after buying an additional 7,930 shares during the period. EcoR1 Capital LLC lifted its stake in shares of Eton Pharmaceuticals by 7.0% during the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after acquiring an additional 141,394 shares during the period. BlackRock Inc. bought a new position in Eton Pharmaceuticals in the second quarter valued at about $68,629,000. Vanguard Group Inc. boosted its holdings in Eton Pharmaceuticals by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after acquiring an additional 31,942 shares during the last quarter. Finally, State Street Corp increased its position in Eton Pharmaceuticals by 14.5% in the fourth quarter. State Street Corp now owns 501,925 shares of the company’s stock worth $8,488,000 after purchasing an additional 63,480 shares during the period. Institutional investors and hedge funds own 27.86% of the company’s stock.

Eton Pharmaceuticals Price Performance

ETON opened at $62.62 on Thursday. The company has a fifty day simple moving average of $44.02 and a 200 day simple moving average of $31.37. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.79 billion, a P/E ratio of 164.79 and a beta of 0.86. Eton Pharmaceuticals, Inc. has a 12 month low of $14.27 and a 12 month high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, research analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Craig Hallum boosted their price objective on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. 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. Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Finally, Canaccord Genuity Group raised their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Insider Activity at Eton Pharmaceuticals

In related news, 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 transaction of $1,626,750.00. Following the completion of the sale, the insider directly owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. This represents a 40.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s 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 sale, the director owned 50,000 shares in the company, valued at $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.49% of the stock is currently owned by insiders.

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.