Eton Pharmaceuticals (NASDAQ:ETON) Sets New 1-Year High – What’s Next?

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) hit a new 52-week high during trading on Tuesday . The company traded as high as $45.27 and last traded at $44.9090, with a volume of 70432 shares trading hands. The stock had previously closed at $42.31.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ETON. Zacks Research lowered Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. 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. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Craig Hallum reaffirmed a “buy” rating and issued a $62.00 target price on shares of Eton Pharmaceuticals in a research report on Tuesday. Finally, Canaccord Genuity Group started coverage on Eton Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

Eton Pharmaceuticals Stock Performance

The company has a market cap of $1.25 billion, a P/E ratio of -653.62 and a beta of 0.86. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $34.87 and a 200-day moving average price of $25.67.

Eton Pharmaceuticals (NASDAQ:ETON) last issued 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). The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. Equities analysts expect that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, 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 in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Krempa sold 19,679 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total value 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 position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 150,000 shares of company stock valued at $4,853,921. Company insiders own 16.49% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Opaleye Management Inc. lifted its holdings in Eton Pharmaceuticals by 0.3% in the 2nd quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock valued at $40,755,000 after acquiring an additional 7,930 shares during the last quarter. EcoR1 Capital LLC raised its holdings in shares of Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after purchasing an additional 141,394 shares in the last quarter. Vanguard Group Inc. lifted its stake in Eton Pharmaceuticals by 2.4% during the third quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after purchasing an additional 31,942 shares during the last quarter. State Street Corp lifted its stake in Eton Pharmaceuticals by 14.5% during the fourth quarter. State Street Corp now owns 501,925 shares of the company’s stock valued at $8,488,000 after purchasing an additional 63,480 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Eton Pharmaceuticals by 156.3% during the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after buying an additional 217,042 shares in the last quarter. 27.86% of the stock is currently owned by institutional investors.

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.