Analysts Set Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Price Target at $29.67

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) has earned a consensus rating of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $29.6667.

Several brokerages recently weighed in on ETON. Wall Street Zen lowered Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Zacks Research lowered shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Wednesday, October 8th.

Eton Pharmaceuticals Price Performance

Eton Pharmaceuticals stock opened at $17.00 on Tuesday. The business’s 50 day simple moving average is $17.10 and its 200 day simple moving average is $16.76. Eton Pharmaceuticals has a 12 month low of $11.09 and a 12 month high of $23.00. The company has a market cap of $455.94 million, a price-to-earnings ratio of -68.00 and a beta of 1.17. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 1.19.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.20). Eton Pharmaceuticals had a negative net margin of 9.50% and a negative return on equity of 11.32%. The firm had revenue of $22.46 million during the quarter, compared to the consensus estimate of $20.47 million. Sell-side analysts forecast that Eton Pharmaceuticals will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Divisadero Street Capital Management LP bought a new stake in shares of Eton Pharmaceuticals during the second quarter valued at about $7,092,000. Geode Capital Management LLC grew its stake in Eton Pharmaceuticals by 98.8% during the second quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock valued at $8,450,000 after acquiring an additional 294,617 shares in the last quarter. Soleus Capital Management L.P. bought a new stake in Eton Pharmaceuticals during the 2nd quarter worth approximately $4,061,000. Millennium Management LLC increased its holdings in Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after acquiring an additional 217,042 shares during the period. Finally, Oberweis Asset Management Inc. bought a new position in shares of Eton Pharmaceuticals in the third quarter worth approximately $4,180,000. 27.86% of the stock is owned by institutional investors.

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.