Eton Pharmaceuticals (NASDAQ:ETON) Hits New 52-Week High – Here’s Why

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.67 and last traded at $38.50, with a volume of 602205 shares. The stock had previously closed at $37.51.

Analysts Set New Price Targets

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

Eton Pharmaceuticals Stock Up 2.6%

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 firm has a 50-day moving average of $32.85 and a 200 day moving average of $24.10. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -549.92 and a beta of 0.86.

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

Insiders Place Their Bets

In other Eton Pharmaceuticals news, insider David Krempa sold 42,797 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $33.39, for a total value of $1,428,991.83. Following the completion of the sale, the insider owned 25,249 shares in the company, valued at $843,064.11. This trade represents a 62.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals 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 completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 150,000 shares of company stock worth $4,853,921. 16.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Soleus Capital Management L.P. acquired a new position in Eton Pharmaceuticals during the second quarter worth approximately $4,061,000. Millennium Management LLC raised its stake in Eton Pharmaceuticals by 156.3% in the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after buying an additional 217,042 shares during the period. Oberweis Asset Management Inc. acquired a new stake in shares of Eton Pharmaceuticals in the third quarter valued at approximately $4,180,000. BNP Paribas Financial Markets lifted its position in shares of Eton Pharmaceuticals by 162.0% in the third quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company’s stock valued at $4,993,000 after buying an additional 142,094 shares during the last quarter. Finally, EcoR1 Capital LLC boosted its stake in shares of Eton Pharmaceuticals by 7.0% during the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after acquiring an additional 141,394 shares during the period. 27.86% of the stock is currently owned by institutional investors and hedge funds.

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.