Nantahala Capital Management LLC Purchases 57,468 Shares of Eton Pharmaceuticals, Inc. $ETON

Nantahala Capital Management LLC lifted its position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,175,951 shares of the company’s stock after acquiring an additional 57,468 shares during the period. Eton Pharmaceuticals makes up about 0.6% of Nantahala Capital Management LLC’s portfolio, making the stock its 19th largest holding. Nantahala Capital Management LLC’s holdings in Eton Pharmaceuticals were worth $15,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mink Brook Asset Management LLC acquired a new position in Eton Pharmaceuticals during the 4th quarter worth approximately $6,071,000. Parkman Healthcare Partners LLC increased its position in Eton Pharmaceuticals by 6.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 276,890 shares of the company’s stock worth $3,688,000 after purchasing an additional 16,664 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Eton Pharmaceuticals by 8.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 232,532 shares of the company’s stock worth $3,018,000 after purchasing an additional 17,654 shares in the last quarter. Millennium Management LLC acquired a new position in Eton Pharmaceuticals during the 4th quarter worth approximately $1,850,000. Finally, Two Sigma Investments LP acquired a new position in Eton Pharmaceuticals during the 4th quarter worth approximately $1,498,000. Institutional investors own 27.86% of the company’s stock.

Insider Buying and Selling

In other news, insider David Krempa sold 16,977 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $14.92, for a total value of $253,296.84. Following the completion of the transaction, the insider directly owned 629,669 shares in the company, valued at approximately $9,394,661.48. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James R. Gruber sold 39,082 shares of Eton Pharmaceuticals stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $16.16, for a total transaction of $631,565.12. Following the sale, the chief financial officer owned 205,299 shares of the company’s stock, valued at approximately $3,317,631.84. The trade was a 15.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,713 shares of company stock valued at $1,178,031 over the last 90 days. 14.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ETON has been the subject of several recent research reports. Craig Hallum upped their price target on shares of Eton Pharmaceuticals from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. HC Wainwright restated a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th. Wall Street Zen cut shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, B. Riley restated a “buy” rating and issued a $26.00 price target (up from $24.00) on shares of Eton Pharmaceuticals in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Eton Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $29.67.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $17.31 on Monday. The firm has a market cap of $464.25 million, a price-to-earnings ratio of -108.19 and a beta of 1.10. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.16 and a current ratio of 1.77. The firm’s 50-day simple moving average is $15.35 and its two-hundred day simple moving average is $15.43. Eton Pharmaceuticals, Inc. has a 52 week low of $4.47 and a 52 week high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.09). Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%.The business had revenue of $18.93 million during the quarter, compared to analysts’ expectations of $16.71 million. As a group, equities analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current year.

Eton Pharmaceuticals Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.