Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 52-Week High – Here’s What Happened

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) hit a new 52-week high during trading on Monday . The company traded as high as $32.51 and last traded at $32.49, with a volume of 402805 shares trading hands. The stock had previously closed at $30.26.

Analysts Set New Price Targets

Several brokerages recently issued reports on ETON. B. Riley Financial boosted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Wall Street Zen upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. HC Wainwright boosted their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Craig Hallum boosted their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.00.

Eton Pharmaceuticals Trading Up 4.7%

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 business has a 50-day simple moving average of $24.81 and a two-hundred day simple moving average of $19.42. The stock has a market cap of $943.65 million, a price-to-earnings ratio of -492.07 and a beta of 0.82.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results 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 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, research analysts forecast that Eton Pharmaceuticals, Inc. will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of large investors have recently bought and sold shares of ETON. Cannell Capital LLC boosted its holdings in shares of Eton Pharmaceuticals by 17.3% in the 3rd quarter. Cannell Capital LLC now owns 455,405 shares of the company’s stock valued at $9,896,000 after buying an additional 67,230 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Eton Pharmaceuticals by 44.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,417 shares of the company’s stock valued at $7,636,000 after buying an additional 108,837 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at approximately $1,922,000. Lumbard & Kellner LLC acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at approximately $3,831,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at approximately $767,000. Institutional investors and hedge funds 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.