Bank of America Corp DE Boosts Stake in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Bank of America Corp DE boosted its holdings in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 5,422.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,100 shares of the company’s stock after acquiring an additional 10,899 shares during the period. Bank of America Corp DE’s holdings in Eton Pharmaceuticals were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth approximately $86,000. Raymond James Financial Inc. acquired a new position in shares of Eton Pharmaceuticals in the 4th quarter valued at $147,000. XTX Topco Ltd increased its position in shares of Eton Pharmaceuticals by 29.6% during the 4th quarter. XTX Topco Ltd now owns 14,655 shares of the company’s stock worth $195,000 after purchasing an additional 3,351 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Eton Pharmaceuticals in the 4th quarter valued at about $226,000. Finally, Envestnet Asset Management Inc. acquired a new position in Eton Pharmaceuticals in the fourth quarter valued at about $236,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ETON. Craig Hallum upped their price objective on shares of Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. HC Wainwright restated a “buy” rating and set a $35.00 price target (up from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th. Finally, B. Riley restated a “buy” rating and set a $26.00 target price (up from $24.00) on shares of Eton Pharmaceuticals in a report on Friday, May 16th.

Insider Transactions at Eton Pharmaceuticals

In related news, insider David Krempa sold 16,977 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $14.92, for a total value of $253,296.84. Following the completion of the sale, the insider now directly owns 629,669 shares of the company’s stock, valued at $9,394,661.48. This represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 34,000 shares of company stock valued at $504,318. Corporate insiders own 16.03% of the company’s stock.

Eton Pharmaceuticals Stock Performance

Shares of ETON opened at $14.17 on Tuesday. The stock has a 50-day simple moving average of $16.59 and a 200-day simple moving average of $15.05. The stock has a market capitalization of $380.01 million, a PE ratio of -64.41 and a beta of 1.28. Eton Pharmaceuticals, Inc. has a 1 year low of $3.18 and a 1 year high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Tuesday, May 13th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. The firm had revenue of $17.28 million for the quarter, compared to analyst estimates of $14.33 million. Analysts predict that Eton Pharmaceuticals, Inc. will post -0.14 EPS 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.