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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) has earned an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $67.50.

Several brokerages have recently issued reports on ETON. Craig Hallum upped their target price on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Canaccord Genuity Group raised their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th.

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 25,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the transaction, the insider owned 37,025 shares of the company’s stock, valued at $2,409,216.75. This represents a 40.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the sale, the director owned 50,000 shares in the company, valued at approximately $1,624,000. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 125,000 shares of company stock worth $6,204,250 in the last quarter. 16.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Eton Pharmaceuticals during the second quarter valued at approximately $68,629,000. Nantahala Capital Management LLC bought a new position in Eton Pharmaceuticals in the second quarter worth approximately $42,569,426. Pillsbury Lake Capital LLC bought a new position in Eton Pharmaceuticals in the second quarter worth approximately $14,015,083. Soleus Capital Management L.P. purchased a new position in Eton Pharmaceuticals during the 2nd quarter worth $4,061,000. Finally, Millennium Management LLC raised its position in Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after purchasing an additional 217,042 shares in the last quarter. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ ETON opened at $58.45 on Monday. The firm’s fifty day moving average is $47.78 and its two-hundred day moving average is $33.56. Eton Pharmaceuticals has a 52-week low of $14.27 and a 52-week high of $66.37. The company has a market cap of $1.67 billion, a P/E ratio of 153.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its earnings results on Thursday, August 13th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The firm had revenue of $37.59 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, analysts anticipate that Eton Pharmaceuticals will post 1.13 EPS for the current fiscal year.

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.