Eton Pharmaceuticals (NASDAQ:ETON) Shares Up 5.3% After Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price shot up 5.3% during trading on Friday after Canaccord Genuity Group upgraded the stock to a strong-buy rating. The company traded as high as $37.79 and last traded at $39.1540. Approximately 39,264 shares changed hands during trading, a decline of 89% from the average daily volume of 370,002 shares. The stock had previously closed at $37.19.

ETON has been the subject of a number of other reports. B. Riley Financial increased their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. Zacks Research lowered Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Craig Hallum upped their price target on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eton Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $45.75.

Insiders Place Their Bets

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the 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 owned 50,000 shares of the company’s stock, valued at $1,624,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David Krempa sold 19,679 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total value of $619,298.13. Following the completion of the sale, the insider owned 25,249 shares of the company’s stock, valued at approximately $794,586.03. This represents a 43.80% 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 over the last 90 days. Corporate insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Eton Pharmaceuticals in the third quarter valued at approximately $37,000. Legal & General Group Plc acquired a new position in shares of Eton Pharmaceuticals during the second quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $44,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Eton Pharmaceuticals in the 4th quarter worth $74,000. Finally, SG Americas Securities LLC bought a new position in shares of Eton Pharmaceuticals in the 4th quarter worth $109,000. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Trading Up 13.8%

The business has a fifty day moving average of $33.39 and a 200-day moving average of $24.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $1.16 billion, a P/E ratio of -604.49 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The business had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. Analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

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.