Eton Pharmaceuticals (NASDAQ:ETON) Raised to Strong-Buy at Wall Street Zen

Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. Craig Hallum upped their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 20th. Zacks Research downgraded shares of Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, April 17th. HC Wainwright upped their price objective on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, B. Riley Financial upped their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $31.59 on Friday. 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 stock’s 50 day moving average price is $28.36 and its two-hundred day moving average price is $21.10. The firm has a market capitalization of $865.25 million, a price-to-earnings ratio of -451.22 and a beta of 0.87. Eton Pharmaceuticals has a 12-month low of $13.09 and a 12-month high of $35.66.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). The business had revenue of $24.27 million during 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%. On average, analysts anticipate that Eton Pharmaceuticals will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, insider David Krempa sold 19,679 shares of Eton Pharmaceuticals stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction 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 trade represents a 43.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 100,000 shares of company stock worth $3,229,921 over the last three months. 16.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Deutsche Bank AG grew its position in shares of Eton Pharmaceuticals by 4.9% during the 4th quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock worth $309,000 after purchasing an additional 850 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Eton Pharmaceuticals by 11.1% during the 4th quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock worth $210,000 after purchasing an additional 1,244 shares in the last quarter. State of Wyoming grew its position in shares of Eton Pharmaceuticals by 16.4% during the 1st quarter. State of Wyoming now owns 9,498 shares of the company’s stock worth $234,000 after purchasing an additional 1,337 shares in the last quarter. Man Group plc grew its position in shares of Eton Pharmaceuticals by 6.0% during the 2nd quarter. Man Group plc now owns 23,754 shares of the company’s stock worth $338,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Eton Pharmaceuticals during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

About Eton Pharmaceuticals

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.