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

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $52.50.

ETON has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. HC Wainwright raised their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 15th. Canaccord Genuity Group assumed coverage on Eton Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $60.00 price objective on the stock. 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.

Eton Pharmaceuticals Trading Up 0.3%

ETON stock opened at $45.97 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62. Eton Pharmaceuticals has a 12-month low of $14.27 and a 12-month high of $50.18. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -656.62 and a beta of 0.86. The business’s 50-day moving average is $36.79 and its 200 day moving average is $27.20.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $22.31 million. On average, sell-side analysts anticipate that Eton Pharmaceuticals will post 0.75 EPS for the current fiscal year.

Insider Transactions at Eton Pharmaceuticals

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 50,000 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Krempa sold 19,679 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total transaction of $619,298.13. Following the sale, the insider directly owned 25,249 shares of the company’s stock, valued at approximately $794,586.03. This represents a 43.80% decrease in their position. 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 over the last quarter. Company insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ETON. Millennium Management LLC boosted its holdings in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after purchasing an additional 217,042 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Eton Pharmaceuticals by 34.9% during the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock worth $2,274,000 after buying an additional 45,341 shares in the last quarter. Jane Street Group LLC lifted its position in Eton Pharmaceuticals by 49.1% during the first quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock worth $1,245,000 after buying an additional 31,596 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Eton Pharmaceuticals by 114.5% during the second quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company’s stock worth $3,457,000 after buying an additional 129,467 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Eton Pharmaceuticals during the second quarter worth $41,000. 27.86% of the stock is owned by hedge funds and other 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.