Eton Pharmaceuticals (NASDAQ:ETON) Stock Gets Downgrade from Zacks Research

Eton Pharmaceuticals (NASDAQ:ETON) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other equities analysts also recently issued reports about the stock. B. Riley Financial upped their price target on shares of Eton Pharmaceuticals from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday. Craig Hallum reiterated a “buy” rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a report on Thursday, October 15th. HC Wainwright lifted their price objective on Eton Pharmaceuticals from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Weiss Ratings upgraded Eton Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Canaccord Genuity Group boosted their target price on Eton Pharmaceuticals from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Eton Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $79.75.

Eton Pharmaceuticals Stock Performance

Shares of ETON opened at $68.40 on Tuesday. The company has a market capitalization of $1.97 billion, a PE ratio of 45.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.58 and a current ratio of 1.79. The company’s 50 day moving average price is $55.19 and its 200 day moving average price is $37.24. Eton Pharmaceuticals has a 52 week low of $14.27 and a 52 week high of $70.64.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. The company had revenue of $57.93 million during the quarter, compared to the consensus estimate of $41.98 million. Eton Pharmaceuticals had a net margin of 35.35% and a return on equity of 104.82%. Research analysts expect that Eton Pharmaceuticals will post 1.13 EPS for the current fiscal year.

Insider Activity at Eton Pharmaceuticals

In other news, insider David Krempa sold 4,166 shares of the firm’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $55.07, for a total transaction of $229,421.62. Following the transaction, the insider owned 43,381 shares in the company, valued at approximately $2,388,991.67. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul V. Maier sold 50,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director owned 59,745 shares in the company, valued at $3,529,137.15. This represents a 45.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,166 shares of company stock valued at $4,809,672 over the last three months. Insiders own 16.49% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of large investors have recently bought and sold shares of ETON. Voya Investment Management LLC acquired a new position in Eton Pharmaceuticals during the third quarter worth $264,000. Global Retirement Partners LLC acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth about $26,000. Morse Asset Management Inc acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth about $35,000. JW Asset Management LLC acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth about $690,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Eton Pharmaceuticals by 296.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,362 shares of the company’s stock worth $1,666,000 after acquiring an additional 24,195 shares in the last quarter. 27.86% of the stock is currently owned by institutional investors.

About Eton Pharmaceuticals

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.