Eton Pharmaceuticals (NASDAQ:ETON) Stock Price Down 5.3% – Should You Sell?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares were down 5.3% during trading on Friday . The company traded as low as $32.52 and last traded at $33.1350. Approximately 241,294 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 354,785 shares. The stock had previously closed at $35.00.

Analysts Set New Price Targets

A number of research analysts have recently commented on ETON shares. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. Wall Street Zen raised Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Craig Hallum raised their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. B. Riley Financial raised their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, HC Wainwright raised their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.00.

Eton Pharmaceuticals Stock Performance

The stock has a market capitalization of $912.36 million, a P/E ratio of -475.79 and a beta of 0.82. 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 business has a fifty day moving average price of $25.52 and a 200-day moving average price of $19.65.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (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. On average, sell-side analysts expect that Eton Pharmaceuticals, Inc. will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in Eton Pharmaceuticals during the third quarter valued at $30,000. Quarry LP bought a new stake in shares of Eton Pharmaceuticals in the third quarter worth about $37,000. Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals in the second quarter worth about $41,000. Caitong International Asset Management Co. Ltd bought a new stake in Eton Pharmaceuticals during the fourth quarter worth approximately $44,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Eton Pharmaceuticals during the fourth quarter worth approximately $74,000. 27.86% of the stock is currently 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.