Balyasny Asset Management L.P. Takes Position in Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Balyasny Asset Management L.P. purchased a new position in shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,850 shares of the company’s stock, valued at approximately $158,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft bought a new position in shares of Eton Pharmaceuticals in the fourth quarter worth about $373,000. Raymond James Financial Inc. acquired a new stake in shares of Eton Pharmaceuticals in the fourth quarter valued at approximately $147,000. Anchor Capital Advisors LLC bought a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $805,000. Barclays PLC acquired a new position in Eton Pharmaceuticals during the 4th quarter worth $731,000. Finally, JPMorgan Chase & Co. lifted its holdings in Eton Pharmaceuticals by 7,086.9% during the 4th quarter. JPMorgan Chase & Co. now owns 51,961 shares of the company’s stock worth $692,000 after buying an additional 51,238 shares in the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $18.93 on Monday. The firm’s 50 day moving average price is $14.82 and its two-hundred day moving average price is $13.96. Eton Pharmaceuticals, Inc. has a 52-week low of $3.18 and a 52-week high of $21.48. The stock has a market cap of $507.66 million, a PE ratio of -86.05 and a beta of 1.22.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $17.28 million during the quarter, compared to the consensus estimate of $14.33 million. As a group, sell-side analysts predict that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETON. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of Eton Pharmaceuticals in a research note on Wednesday, March 19th. B. Riley reiterated a “buy” rating and issued a $26.00 price target (up previously from $24.00) on shares of Eton Pharmaceuticals in a report on Friday. Finally, Craig Hallum boosted their price objective on Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th.

About Eton Pharmaceuticals

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.