Eton Pharmaceuticals (NASDAQ:ETON) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

ETON has been the subject of several other research reports. Canaccord Genuity Group upped their price target on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. B. Riley Financial reissued a “buy” rating and set a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Craig Hallum upped their price objective on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Eton Pharmaceuticals Stock Down 2.1%

ETON opened at $63.05 on Monday. Eton Pharmaceuticals has a one year low of $14.27 and a one year high of $66.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The stock has a market capitalization of $1.80 billion, a P/E ratio of 165.92 and a beta of 0.86. The business’s 50-day simple moving average is $43.42 and its 200-day simple moving average is $31.03.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. The firm had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $27.11 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. Analysts anticipate that Eton Pharmaceuticals will post 0.67 EPS for the current year.

Insider Activity

In other 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 $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Krempa sold 25,000 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the transaction, the insider owned 37,025 shares in the company, valued at approximately $2,409,216.75. This trade represents a 40.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Opaleye Management Inc. grew its holdings in Eton Pharmaceuticals by 0.3% during the second quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock worth $40,755,000 after acquiring an additional 7,930 shares during the period. EcoR1 Capital LLC lifted its holdings in Eton Pharmaceuticals by 7.0% in the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after acquiring an additional 141,394 shares during the period. BlackRock Inc. acquired a new stake in Eton Pharmaceuticals in the second quarter valued at $68,629,000. Vanguard Group Inc. boosted its position in shares of Eton Pharmaceuticals by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock worth $29,208,000 after purchasing an additional 31,942 shares in the last quarter. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth $42,569,426,000. 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.