Eton Pharmaceuticals (NASDAQ:ETON) Stock Rating Lowered by Zacks Research

Eton Pharmaceuticals (NASDAQ:ETON) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. B. Riley Financial raised their price target 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. Craig Hallum boosted their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, HC Wainwright upped 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. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.00.

Eton Pharmaceuticals Stock Up 0.5%

Shares of NASDAQ ETON opened at $37.51 on Monday. The business has a fifty day moving average of $32.85 and a two-hundred day moving average of $24.10. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. Eton Pharmaceuticals has a 52-week low of $13.76 and a 52-week high of $38.62. The stock has a market cap of $1.03 billion, a PE ratio of -535.78 and a beta of 0.86.

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 the consensus estimate 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 firm had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. As a group, equities research analysts expect that Eton Pharmaceuticals will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Eton Pharmaceuticals

In other news, insider David Krempa sold 42,797 shares of Eton Pharmaceuticals stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $33.39, for a total transaction of $1,428,991.83. Following the transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. This trade represents a 62.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,000 shares of company stock worth $4,853,921 in the last three months. 16.49% of the stock is owned by insiders.

Institutional Trading of Eton Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ETON. Soleus Capital Management L.P. bought a new stake in Eton Pharmaceuticals during the 2nd quarter worth approximately $4,061,000. Millennium Management LLC lifted 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 in the last quarter. Oberweis Asset Management Inc. acquired a new position in shares of Eton Pharmaceuticals in the third quarter valued at approximately $4,180,000. BNP Paribas Financial Markets boosted its holdings 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 period. Finally, EcoR1 Capital LLC increased its position in shares of Eton Pharmaceuticals by 7.0% during the first 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 in the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.