Eton Pharmaceuticals (NASDAQ:ETON) Shares Up 5.3% – Here’s Why

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price was up 5.3% on Friday . The company traded as high as $37.79 and last traded at $39.1540. Approximately 39,264 shares were traded during trading, a decline of 89% from the average session volume of 370,002 shares. The stock had previously closed at $37.19.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ETON. Craig Hallum boosted their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 20th. B. Riley Financial lifted their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Zacks Research downgraded Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.75.

Eton Pharmaceuticals Price Performance

The firm has a 50 day moving average price of $33.14 and a 200 day moving average price of $24.39. The stock has a market capitalization of $1.09 billion, a PE ratio of -565.98 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share 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 analysts’ expectations of $22.31 million. Research analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current year.

Insider Activity

In other news, insider David Krempa sold 42,797 shares of Eton Pharmaceuticals stock in a transaction dated 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 transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. The trade was a 62.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the business’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 transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 150,000 shares of company stock worth $4,853,921 in the last ninety days. Corporate insiders own 16.49% of the company’s stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Soleus Capital Management L.P. purchased a new stake in shares of Eton Pharmaceuticals in the second quarter worth $4,061,000. Millennium Management LLC boosted its holdings in Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after buying an additional 217,042 shares during the period. Oberweis Asset Management Inc. bought a new position in Eton Pharmaceuticals in the 3rd quarter worth $4,180,000. BNP Paribas Financial Markets increased its stake in Eton Pharmaceuticals by 162.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company’s stock worth $4,993,000 after buying an additional 142,094 shares in the last quarter. Finally, EcoR1 Capital LLC increased its stake in Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after buying an additional 141,394 shares in the last quarter. 27.86% of the stock is currently owned by institutional investors.

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.