B. Riley started coverage on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a research note published on Friday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $13.50 price objective on the stock.
Several other research firms have also issued reports on ETON. HC Wainwright reaffirmed a buy rating and issued a $18.00 price objective on shares of Eton Pharmaceuticals in a research note on Monday, August 5th. Zacks Investment Research raised shares of Eton Pharmaceuticals from a hold rating to a strong-buy rating and set a $7.00 price objective for the company in a research note on Monday, August 12th. ValuEngine raised shares of Eton Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, August 1st. Finally, Lake Street Capital assumed coverage on shares of Eton Pharmaceuticals in a research note on Monday, August 5th. They issued a buy rating for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $12.83.
ETON stock opened at $7.14 on Friday. The company has a quick ratio of 11.48, a current ratio of 11.48 and a debt-to-equity ratio of 0.01. Eton Pharmaceuticals has a 1 year low of $5.13 and a 1 year high of $10.20. The company has a fifty day simple moving average of $5.88 and a 200 day simple moving average of $7.20.
Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. As a group, sell-side analysts forecast that Eton Pharmaceuticals will post -1.04 earnings per share for the current fiscal year.
In other news, CEO Sean Brynjelsen bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $6.15 per share, with a total value of $30,750.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.46% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in Eton Pharmaceuticals by 122.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,139 shares of the company’s stock worth $25,000 after acquiring an additional 1,728 shares during the last quarter. Vanguard Group Inc. lifted its position in Eton Pharmaceuticals by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 28,762 shares of the company’s stock worth $227,000 after acquiring an additional 1,800 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Eton Pharmaceuticals by 181.2% during the 2nd quarter. BlackRock Inc. now owns 26,092 shares of the company’s stock worth $206,000 after acquiring an additional 16,813 shares during the last quarter. 9.95% of the stock is owned by hedge funds and other institutional investors.
Eton Pharmaceuticals Company Profile
Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. It primarily focuses on liquid products, including injectable, oral liquid, and ophthalmic products. The company develops EM-100, an ophthalmic product for the treatment of allergic conjunctivitis; ET-202 and ET-203, which are injectable product candidates for use in the hospital setting; ET-103, an oral liquid product candidate for hypothyroidism; ET-101, ET-102, and ET-104, which are oral liquid product candidates for neurological indications; and CT-100, a synthetic corticotropin therapeutic candidate for rheumatoid arthritis.
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