Acadian Asset Management LLC Has $395,000 Stock Holdings in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Acadian Asset Management LLC decreased its holdings in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) by 22.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,574 shares of the company’s stock after selling 35,812 shares during the quarter. Acadian Asset Management LLC owned 0.47% of Eton Pharmaceuticals worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new position in Eton Pharmaceuticals during the 4th quarter valued at about $123,000. Westside Investment Management Inc. boosted its holdings in shares of Eton Pharmaceuticals by 2.0% during the second quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock worth $1,926,000 after purchasing an additional 11,440 shares during the period. Finally, Opaleye Management Inc. grew its position in Eton Pharmaceuticals by 4.1% during the fourth quarter. Opaleye Management Inc. now owns 2,529,887 shares of the company’s stock valued at $11,081,000 after purchasing an additional 99,617 shares in the last quarter. 27.86% of the stock is owned by institutional investors and hedge funds.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock opened at $5.91 on Thursday. The stock has a 50-day simple moving average of $4.06 and a 200-day simple moving average of $3.77. Eton Pharmaceuticals, Inc. has a 52-week low of $3.03 and a 52-week high of $5.94. The firm has a market cap of $151.83 million, a price-to-earnings ratio of 146.75 and a beta of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Eton Pharmaceuticals had a negative return on equity of 43.62% and a negative net margin of 21.31%. The business had revenue of $9.07 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, equities research analysts predict that Eton Pharmaceuticals, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Eton Pharmaceuticals in a research report on Wednesday, September 4th.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. bought 57,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $4.65 per share, for a total transaction of $267,375.00. Following the completion of the acquisition, the insider now directly owns 2,660,000 shares in the company, valued at $12,369,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 14.89% of the stock is currently owned by corporate insiders.

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.