Eton Pharmaceuticals (NASDAQ:ETON) Shares Down 4.5% – Here’s What Happened

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) traded down 4.5% during mid-day trading on Tuesday . The stock traded as low as $40.61 and last traded at $41.70. Approximately 80,032 shares traded hands during trading, a decline of 80% from the average session volume of 392,331 shares. The stock had previously closed at $43.67.

Analysts Set New Price Targets

Several equities research analysts recently commented on ETON shares. Canaccord Genuity Group started coverage on shares of Eton Pharmaceuticals in a research report on Thursday, July 16th. They issued a “buy” rating and a $60.00 price target for the company. HC Wainwright increased their target price on Eton Pharmaceuticals from $57.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Craig Hallum lifted their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Zacks Research downgraded Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Eton Pharmaceuticals Stock Down 4.0%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The business’s 50 day moving average is $37.66 and its 200-day moving average is $27.82. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -597.56 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $24.27 million during the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%. Equities analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 42,797 shares of the business’s 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 sale, the insider owned 25,249 shares of the company’s stock, valued at $843,064.11. The trade was a 62.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,624,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 150,000 shares of company stock worth $4,853,921. Insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EcoR1 Capital LLC raised its holdings in shares of Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after buying an additional 141,394 shares in the last quarter. Sei Investments Co. acquired a new stake in Eton Pharmaceuticals in the 1st quarter valued at $1,432,000. Walleye Capital LLC acquired a new stake in Eton Pharmaceuticals in the 1st quarter valued at $2,023,000. Aristides Capital LLC raised its stake in Eton Pharmaceuticals by 15.2% during the first quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock worth $4,591,000 after acquiring an additional 24,605 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its holdings in shares of Eton Pharmaceuticals by 33.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 118,300 shares of the company’s stock valued at $2,000,000 after acquiring an additional 29,860 shares during the period. Institutional investors 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.