Eton Pharmaceuticals (NASDAQ:ETON) Upgraded by Canaccord Genuity Group to Strong-Buy Rating

Canaccord Genuity Group upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other analysts have also commented on the stock. HC Wainwright upped their price objective on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Craig Hallum lifted their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. Zacks Research downgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Eton Pharmaceuticals Stock Up 13.8%

Shares of Eton Pharmaceuticals stock opened at $42.32 on Thursday. Eton Pharmaceuticals has a 12-month low of $13.78 and a 12-month high of $42.65. The firm has a market capitalization of $1.16 billion, a PE ratio of -604.49 and a beta of 0.86. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $33.39 and its 200-day moving average is $24.52.

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

Insider Transactions at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, 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 completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Krempa sold 19,679 shares of Eton Pharmaceuticals stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total value of $619,298.13. Following the transaction, the insider directly owned 25,249 shares in the company, valued at approximately $794,586.03. This trade represents a 43.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 150,000 shares of company stock valued at $4,853,921 over the last 90 days. Corporate insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETON. Quarry LP purchased a new stake in Eton Pharmaceuticals in the 3rd quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at $44,000. Legal & General Group Plc purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $41,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Eton Pharmaceuticals during the 4th quarter valued at $74,000. Finally, SG Americas Securities LLC acquired a new position in shares of Eton Pharmaceuticals in the fourth quarter worth $109,000. 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.