Eton Pharmaceuticals (NASDAQ:ETON) Upgraded to “Hold” at Zacks Research

Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on ETON. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen cut Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.67.

Eton Pharmaceuticals Stock Down 3.8%

NASDAQ:ETON opened at $16.26 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.25. The firm’s 50-day moving average price is $16.89 and its 200-day moving average price is $16.83. Eton Pharmaceuticals has a 1-year low of $11.09 and a 1-year high of $23.00. The company has a market capitalization of $436.06 million, a PE ratio of -65.04 and a beta of 1.17.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $22.46 million for the quarter, compared to analysts’ expectations of $20.47 million. On average, equities analysts predict that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its position in Eton Pharmaceuticals by 138.7% in the first quarter. Cubist Systematic Strategies LLC now owns 103,200 shares of the company’s stock worth $1,340,000 after acquiring an additional 59,961 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Eton Pharmaceuticals during the first quarter worth $704,000. Millennium Management LLC boosted its stake in shares of Eton Pharmaceuticals by 156.3% during the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after purchasing an additional 217,042 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Eton Pharmaceuticals by 34.9% in the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock worth $2,274,000 after purchasing an additional 45,341 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Eton Pharmaceuticals by 49.1% in the first quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock worth $1,245,000 after purchasing an additional 31,596 shares during the last quarter. 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.