Eton Pharmaceuticals (NASDAQ:ETON) Trading Down 5.3% – Here’s What Happened

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) fell 5.3% during trading on Friday . The stock traded as low as $32.52 and last traded at $33.1350. 241,294 shares were traded during trading, a decline of 32% from the average session volume of 354,785 shares. The stock had previously closed at $35.00.

Analyst Ratings Changes

Several brokerages recently commented on ETON. Zacks Research lowered shares of Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 17th. Wall Street Zen raised shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. HC Wainwright upped their price target on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Finally, B. Riley Financial upped their price target on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Eton Pharmaceuticals currently has an average rating of “Hold” and an average price target of $41.00.

Eton Pharmaceuticals Stock Down 6.9%

The firm’s 50-day moving average price is $25.81 and its 200-day moving average price is $19.74. The company has a market cap of $892.64 million, a price-to-earnings ratio of -465.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%.The business had revenue of $24.27 million during the quarter, compared to analyst estimates of $22.31 million. Sell-side analysts forecast that Eton Pharmaceuticals, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Deutsche Bank AG increased its position in shares of Eton Pharmaceuticals by 4.9% in the fourth quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock worth $309,000 after acquiring an additional 850 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Eton Pharmaceuticals by 11.1% in the fourth quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock worth $210,000 after acquiring an additional 1,244 shares in the last quarter. State of Wyoming increased its position in shares of Eton Pharmaceuticals by 16.4% in the first quarter. State of Wyoming now owns 9,498 shares of the company’s stock worth $234,000 after acquiring an additional 1,337 shares in the last quarter. Man Group plc increased its position in shares of Eton Pharmaceuticals by 6.0% in the second quarter. Man Group plc now owns 23,754 shares of the company’s stock worth $338,000 after acquiring an additional 1,350 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth $30,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.