Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.75.

A number of research firms have recently issued reports on ETON. Zacks Research lowered shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. HC Wainwright raised their price objective on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Canaccord Genuity Group started coverage on shares of Eton Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th.

Eton Pharmaceuticals Trading Up 13.8%

NASDAQ:ETON opened at $42.32 on Friday. The stock has a fifty day simple moving average of $33.39 and a 200 day simple moving average of $24.52. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -604.49 and a beta of 0.86. Eton Pharmaceuticals has a 1-year low of $13.78 and a 1-year high of $42.65. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data 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 return on equity of 5.68% and a negative net margin of 1.70%.The company had revenue of $24.27 million for the quarter, compared to analyst estimates of $22.31 million. Sell-side analysts forecast that Eton Pharmaceuticals will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David Krempa sold 42,797 shares of the stock in a transaction dated Friday, May 22nd. The stock was 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 directly owned 25,249 shares of the company’s stock, valued at approximately $843,064.11. This represents a 62.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,624,000.00. Following the sale, the director 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 150,000 shares of company stock worth $4,853,921 in the last quarter. 16.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Soleus Capital Management L.P. acquired a new stake in shares of Eton Pharmaceuticals during the second quarter worth approximately $4,061,000. Millennium Management LLC increased its stake in 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 buying an additional 217,042 shares during the period. Oberweis Asset Management Inc. acquired a new position in Eton Pharmaceuticals in the 3rd quarter valued at approximately $4,180,000. BNP Paribas Financial Markets increased 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 buying an additional 142,094 shares during the period. Finally, EcoR1 Capital LLC lifted its position in 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. 27.86% of the stock is owned by hedge funds and other institutional investors.

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.