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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.62 and last traded at $37.74, with a volume of 400047 shares traded. The stock had previously closed at $38.02.

Analysts Set New Price Targets

ETON has been the subject of several research reports. Zacks Research cut Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. HC Wainwright lifted their price objective on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. B. Riley Financial lifted their price target on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.00.

Eton Pharmaceuticals Trading Up 3.2%

The firm’s fifty day simple moving average is $32.18 and its 200 day simple moving average is $23.66. The stock has a market capitalization of $1.02 billion, a P/E ratio of -533.21 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 (NASDAQ:ETON) last issued 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). The firm had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%. As a group, equities research analysts forecast that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Insider Transactions at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Krempa sold 42,797 shares of the company’s stock in a transaction on 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 owned 25,249 shares of the company’s stock, valued at $843,064.11. This trade represents a 62.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 150,000 shares of company stock valued at $4,853,921 in the last three months. Company insiders own 16.49% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Eton Pharmaceuticals during the third quarter valued at about $37,000. Legal & General Group Plc bought a new position in Eton Pharmaceuticals in the 2nd quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new position in Eton Pharmaceuticals in the 4th quarter valued at approximately $44,000. China Universal Asset Management Co. Ltd. acquired a new stake in Eton Pharmaceuticals during the 4th quarter worth approximately $74,000. Finally, SG Americas Securities LLC acquired a new stake in Eton Pharmaceuticals during the 4th quarter worth approximately $109,000. Institutional investors 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.