Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Stock Has Consensus Target Price of $71.50 According to Brokerages

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) has received an average recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $71.50.

ETON has been the subject of a number of recent research reports. Craig Hallum reiterated a “buy” rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Canaccord Genuity Group upped their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Eton Pharmaceuticals in a research note on Wednesday, October 14th. Zacks Research upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Finally, B. Riley Financial reissued a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th.

Eton Pharmaceuticals Stock Performance

NASDAQ:ETON opened at $50.00 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41. Eton Pharmaceuticals has a fifty-two week low of $14.27 and a fifty-two week high of $66.37. The stock has a market cap of $1.43 billion, a PE ratio of 131.58 and a beta of 0.90. The firm’s fifty day simple moving average is $56.92 and its 200-day simple moving average is $42.04.

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

Insiders Place Their Bets

In related news, Director Paul V. Maier sold 50,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director directly owned 59,745 shares in the company, valued at approximately $3,529,137.15. This represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Krempa sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 37,025 shares in the company, valued at approximately $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 79,166 shares of company stock worth $4,809,672. Corporate insiders own 16.49% of the company’s stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of large investors have recently bought and sold shares of ETON. Hilton Head Capital Partners LLC acquired a new position in shares of Eton Pharmaceuticals in the 3rd quarter valued at $26,000. Sterling Capital Management LLC boosted its holdings in Eton Pharmaceuticals by 845.7% in the third quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after acquiring an additional 795 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Eton Pharmaceuticals by 159.0% during the third quarter. SBI Securities Co. Ltd. now owns 1,852 shares of the company’s stock valued at $95,000 after acquiring an additional 1,137 shares during the period. Kings Path Partners LLC acquired a new stake in Eton Pharmaceuticals during the third quarter worth about $181,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Eton Pharmaceuticals during the third quarter worth about $2,368,000. Hedge funds and other 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 and commercializing treatments for rare diseases and other conditions with limited therapeutic options. The company generally pursues products that address unmet medical needs, including medicines for pediatric and orphan indications.

Eton’s commercial portfolio has included Alkindi Sprinkle, an oral hydrocortisone formulation used as replacement therapy in young children with adrenal insufficiency, and Eprontia, an oral solution formulation of topiramate.