Eton Pharmaceuticals (NASDAQ:ETON) Hits New 52-Week High – Time to Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $38.62 and last traded at $37.74, with a volume of 400047 shares. The stock had previously closed at $38.02.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Zacks Research downgraded shares of Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 17th. Craig Hallum raised their price target on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. HC Wainwright increased their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

Eton Pharmaceuticals Price Performance

The company has a market capitalization of $1.03 billion, a P/E ratio of -539.07 and a beta of 0.86. The business’s 50-day simple moving average is $31.66 and its 200 day simple moving average is $23.37. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly 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 business had revenue of $24.27 million during the quarter, compared to the consensus estimate of $22.31 million. As a group, sell-side analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current year.

Insider Transactions at Eton Pharmaceuticals

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the firm’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 completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Krempa sold 19,679 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total value of $619,298.13. Following the completion of the transaction, the insider directly owned 25,249 shares in the company, valued at approximately $794,586.03. The trade was a 43.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 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

Several institutional investors have recently bought and sold shares of the company. Soleus Capital Management L.P. acquired a new stake in Eton Pharmaceuticals in the 2nd quarter valued at approximately $4,061,000. Millennium Management LLC raised its holdings in shares of Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after purchasing an additional 217,042 shares during the period. Oberweis Asset Management Inc. bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter valued at about $4,180,000. BNP Paribas Financial Markets lifted its stake in Eton Pharmaceuticals by 162.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company’s stock valued at $4,993,000 after purchasing an additional 142,094 shares during the last quarter. Finally, EcoR1 Capital LLC lifted its stake in Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after purchasing an additional 141,394 shares during the last quarter. 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.