Eton Pharmaceuticals (NASDAQ:ETON) Sets New 52-Week High – Time to Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $38.67 and last traded at $38.50, with a volume of 602205 shares. The stock had previously closed at $37.51.

Wall Street Analyst Weigh In

ETON has been the topic of several analyst reports. HC Wainwright upped their target price 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. 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. Zacks Research lowered shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday. Canaccord Genuity Group began coverage on Eton Pharmaceuticals in a research report on Thursday. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, B. Riley Financial upped their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Eton Pharmaceuticals presently has an average rating of “Hold” and an average price target of $45.75.

Eton Pharmaceuticals Trading Down 3.4%

The stock has a 50-day simple moving average of $33.14 and a two-hundred day simple moving average of $24.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The firm has a market cap of $1.02 billion, a PE ratio of -531.21 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results 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 net margin of 1.70% and a negative return on equity of 5.68%. The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. As a group, sell-side analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current year.

Insider Buying and Selling

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Krempa sold 42,797 shares of Eton Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $33.39, for a total transaction of $1,428,991.83. Following the completion of the sale, the insider directly owned 25,249 shares of the company’s stock, valued at approximately $843,064.11. This trade represents a 62.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 150,000 shares of company stock worth $4,853,921. 16.49% of the stock is owned by insiders.

Institutional Trading of Eton Pharmaceuticals

Several large investors have recently modified their holdings of ETON. Quarry LP purchased a new stake in Eton Pharmaceuticals during the third quarter valued at $37,000. Caitong International Asset Management Co. Ltd purchased a new position in Eton Pharmaceuticals in the fourth quarter worth about $44,000. Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $41,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at about $74,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at about $109,000. 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.