Eton Pharmaceuticals (NASDAQ:ETON) Hits New 1-Year High – Here’s Why

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $35.70 and last traded at $35.5750, with a volume of 9337 shares changing hands. The stock had previously closed at $34.82.

Analyst Ratings Changes

Several equities research analysts have weighed in on ETON shares. Craig Hallum boosted their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. B. Riley Financial lifted their target price on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Zacks Research downgraded Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 17th. Finally, HC Wainwright lifted their price objective on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Three research 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’s stock. According to data from MarketBeat.com, Eton Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $41.00.

Eton Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a fifty day moving average price of $29.64 and a two-hundred day moving average price of $22.21. The stock has a market capitalization of $971.46 million, a PE ratio of -506.56 and a beta of 0.87.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $22.31 million. Research analysts expect that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current year.

Insider Activity

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 50,000 shares of the company’s stock, valued at $1,624,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Krempa sold 42,797 shares of Eton Pharmaceuticals stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $33.39, for a total transaction of $1,428,991.83. Following the sale, the insider owned 25,249 shares of the company’s stock, valued at $843,064.11. The trade was a 62.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 150,000 shares of company stock worth $4,853,921 in the last ninety days. 16.49% of the stock is currently owned by insiders.

Institutional Trading of Eton Pharmaceuticals

A number of large investors have recently modified their holdings of ETON. Quarry LP bought a new position in Eton Pharmaceuticals in 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. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eton Pharmaceuticals in the 4th quarter worth $44,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Eton Pharmaceuticals in the 4th quarter worth $74,000. Finally, SG Americas Securities LLC bought a new position in shares of Eton Pharmaceuticals during the 4th quarter worth $109,000. Hedge funds and other institutional investors 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.