Eton Pharmaceuticals (NASDAQ:ETON) Stock Price Down 4.4% – Should You Sell?

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) dropped 4.4% on Friday . The company traded as low as $59.26 and last traded at $59.93. Approximately 57,994 shares changed hands during trading, a decline of 86% from the average session volume of 423,626 shares. The stock had previously closed at $62.67.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ETON shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright increased their target price on Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Zacks Research raised Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Canaccord Genuity Group upped their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Eton Pharmaceuticals Stock Performance

The stock’s 50-day moving average is $44.62 and its 200 day moving average is $31.70. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 155.37 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.43 EPS 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 business had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. As a group, analysts predict that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Monday, August 24th. The stock was 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 $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETON. Quarry LP acquired a new position in Eton Pharmaceuticals during the third quarter worth approximately $37,000. Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter worth approximately $41,000. Toth Financial Advisory Corp bought a new position in Eton Pharmaceuticals during the 2nd quarter valued at $43,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Eton Pharmaceuticals in the 4th quarter worth $44,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Eton Pharmaceuticals in the second quarter worth about $90,000. Hedge funds and other 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.