B. Riley Financial Forecasts Strong Price Appreciation for Eton Pharmaceuticals (NASDAQ:ETON) Stock

Eton Pharmaceuticals (NASDAQ:ETON) had its price objective hoisted by equities research analysts at B. Riley Financial from $70.00 to $81.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s price objective indicates a potential upside of 20.77% from the company’s current price.

Several other analysts have also recently weighed in on the stock. Craig Hallum reiterated a “buy” rating and issued a $78.00 price objective on shares of Eton Pharmaceuticals in a research note on Thursday, October 15th. Weiss Ratings upgraded shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Canaccord Genuity Group boosted their price target on Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a “buy” rating in a report on Friday. HC Wainwright upped their price objective on Eton Pharmaceuticals from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday. Finally, Zacks Research upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $79.75.

Eton Pharmaceuticals Stock Up 4.2%

ETON stock traded up $2.72 during midday trading on Tuesday, hitting $67.07. The company’s stock had a trading volume of 488,222 shares, compared to its average volume of 453,999. The company’s fifty day moving average price is $54.89 and its 200 day moving average price is $36.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. Eton Pharmaceuticals has a twelve month low of $14.27 and a twelve month high of $67.57. The stock has a market capitalization of $1.92 billion, a P/E ratio of 44.13 and a beta of 0.89.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.19. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. The company had revenue of $57.93 million for the quarter, compared to analyst estimates of $41.98 million. As a group, equities research analysts predict that Eton Pharmaceuticals will post 1.13 EPS for the current year.

Insider Activity

In other news, Director Paul V. Maier sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the completion of the transaction, the director directly owned 59,745 shares in the company, valued at $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Krempa sold 4,166 shares of Eton Pharmaceuticals stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total value of $229,421.62. Following the completion of the transaction, the insider directly owned 43,381 shares in the company, valued at approximately $2,388,991.67. This represents a 8.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 79,166 shares of company stock valued at $4,809,672. Insiders own 16.49% of the company’s stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ETON. Hilton Head Capital Partners LLC acquired a new position in shares of Eton Pharmaceuticals in the 3rd quarter valued at about $26,000. Morse Asset Management Inc acquired a new stake in Eton Pharmaceuticals in the third quarter worth $35,000. Sterling Capital Management LLC increased its stake in Eton Pharmaceuticals by 845.7% in the third quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in Eton Pharmaceuticals in the second quarter valued at $43,000. Finally, USA Financial Formulas acquired a new position in shares of Eton Pharmaceuticals during the third quarter valued at about $62,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.