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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) reached a new 52-week high on Tuesday . The company traded as high as $42.88 and last traded at $42.99, with a volume of 35227 shares trading hands. The stock had previously closed at $41.07.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. HC Wainwright upped their target price on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Canaccord Genuity Group began coverage on Eton Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $60.00 target price on the stock. Finally, Zacks Research cut Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.75.

Eton Pharmaceuticals Stock Performance

The stock’s fifty day moving average price is $33.62 and its two-hundred day moving average price is $24.74. 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 company has a market cap of $1.17 billion, a P/E ratio of -612.51 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly 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 return on equity of 5.68% and a negative net margin of 1.70%.The firm had revenue of $24.27 million for the quarter, compared to analyst estimates of $22.31 million. As a group, equities analysts predict that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David Krempa sold 19,679 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total transaction of $619,298.13. Following the completion of the sale, the insider directly owned 25,249 shares in the company, valued at $794,586.03. This represents a 43.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $1,624,000. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 150,000 shares of company stock worth $4,853,921. Company insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Eton Pharmaceuticals in the 3rd quarter valued at about $37,000. Legal & General Group Plc acquired a new stake in Eton Pharmaceuticals during the second quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Eton Pharmaceuticals during the fourth quarter worth approximately $44,000. China Universal Asset Management Co. Ltd. bought a new stake in Eton Pharmaceuticals in the fourth quarter worth approximately $74,000. Finally, SG Americas Securities LLC bought a new stake in Eton Pharmaceuticals in the fourth quarter worth approximately $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.