Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Given Average Recommendation of “Moderate Buy” by Brokerages

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.50.

Several research analysts recently weighed in on ETON shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Craig Hallum lifted their target price on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. HC Wainwright lifted their target price on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Zacks Research cut shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th.

Insiders Place Their Bets

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

Institutional Trading of Eton Pharmaceuticals

Several institutional investors have recently bought and sold shares of ETON. Soleus Capital Management L.P. purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at approximately $4,061,000. Millennium Management LLC grew its stake in Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after acquiring an additional 217,042 shares during the period. Oberweis Asset Management Inc. purchased a new stake in Eton Pharmaceuticals in the 3rd quarter worth $4,180,000. BNP Paribas Financial Markets raised its position in Eton Pharmaceuticals by 162.0% during the third quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company’s stock worth $4,993,000 after acquiring an additional 142,094 shares during the period. Finally, EcoR1 Capital LLC raised its position in Eton Pharmaceuticals by 7.0% during the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after acquiring an additional 141,394 shares during the period. 27.86% of the stock is owned by institutional investors and hedge funds.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $45.97 on Thursday. The firm’s fifty day moving average is $36.79 and its two-hundred day moving average is $27.20. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -656.62 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. Eton Pharmaceuticals has a one year low of $14.27 and a one year high of $50.18.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 expect that Eton Pharmaceuticals will post 0.75 EPS for the current year.

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.