Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 12-Month High – Here’s What Happened

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.50 and last traded at $37.2550, with a volume of 193976 shares traded. The stock had previously closed at $36.63.

Analyst Upgrades and Downgrades

ETON has been the topic of several recent analyst reports. Zacks Research cut Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 17th. Craig Hallum boosted their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. HC Wainwright increased their price target on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Finally, B. Riley Financial raised their target price on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eton Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $41.00.

Eton Pharmaceuticals Stock Up 1.8%

The stock has a market capitalization of $1.02 billion, a P/E ratio of -533.00 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a fifty day moving average price of $30.51 and a 200 day moving average price of $22.77.

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

Insider Activity at Eton Pharmaceuticals

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Krempa sold 42,797 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $33.39, for a total transaction of $1,428,991.83. Following the sale, the insider directly owned 25,249 shares in the company, valued at $843,064.11. This trade represents a 62.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 150,000 shares of company stock valued at $4,853,921. 16.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in Eton Pharmaceuticals during the third quarter worth about $37,000. Legal & General Group Plc purchased a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eton Pharmaceuticals in the 4th quarter valued at about $44,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at about $74,000. Finally, SG Americas Securities LLC bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at about $109,000. Hedge funds and other institutional investors 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.