Eton Pharmaceuticals (NASDAQ:ETON) Upgraded by Zacks Research to Hold Rating

Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on ETON. Canaccord Genuity Group increased their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. B. Riley Financial reissued a “buy” rating and issued a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, HC Wainwright boosted their price objective on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Eton Pharmaceuticals Stock Performance

NASDAQ:ETON opened at $63.05 on Monday. The stock has a 50 day simple moving average of $43.42 and a 200 day simple moving average of $31.03. The stock has a market cap of $1.80 billion, a P/E ratio of 165.92 and a beta of 0.86. Eton Pharmaceuticals has a 1-year low of $14.27 and a 1-year high of $66.37. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The firm had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $27.11 million. Research analysts anticipate that Eton Pharmaceuticals will post 0.67 earnings per share for the current year.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the completion of the sale, the insider directly owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. This trade represents a 40.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Eton Pharmaceuticals during the third quarter worth approximately $37,000. Legal & General Group Plc bought a new stake in Eton Pharmaceuticals during the 2nd quarter valued at $41,000. Toth Financial Advisory Corp acquired a new position in Eton Pharmaceuticals during the second quarter worth $43,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at $44,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Eton Pharmaceuticals during the second quarter valued at about $90,000. Institutional investors own 27.86% of the company’s stock.

About Eton Pharmaceuticals

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.