Eton Pharmaceuticals (NASDAQ:ETON) Stock Price Down 4.6% – Time to Sell?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares dropped 4.6% on Monday . The company traded as low as $43.49 and last traded at $44.2750. 185,599 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 392,865 shares. The stock had previously closed at $46.42.

Wall Street Analysts Forecast Growth

ETON has been the topic of a number of research analyst reports. Craig Hallum boosted their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. HC Wainwright lifted their price target on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Canaccord Genuity Group initiated coverage on shares of Eton Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Eton Pharmaceuticals Stock Performance

The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -643.41 and a beta of 0.86. The stock has a fifty day moving average price of $35.98 and a two-hundred day moving average price of $26.56. 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 issued 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 net margin of 1.70% and a negative return on equity of 5.68%. The company had revenue of $24.27 million during the quarter, compared to analysts’ expectations of $22.31 million. As a group, analysts forecast that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David Krempa sold 42,797 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $33.39, for a total value of $1,428,991.83. Following the completion of the transaction, the insider owned 25,249 shares of the company’s stock, valued at $843,064.11. The trade was a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 150,000 shares of company stock valued at $4,853,921. Company insiders own 16.49% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several hedge funds have recently made changes to their positions in ETON. Wasatch Advisors LP purchased a new position in Eton Pharmaceuticals during the second quarter worth about $3,357,000. Bank of America Corp DE grew its holdings in Eton Pharmaceuticals by 37.8% in the 1st quarter. Bank of America Corp DE now owns 144,367 shares of the company’s stock valued at $3,563,000 after buying an additional 39,571 shares during the period. EcoR1 Capital LLC increased its stake in shares of Eton Pharmaceuticals by 7.0% during the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after acquiring an additional 141,394 shares during the last quarter. Aristides Capital LLC lifted its holdings in shares of Eton Pharmaceuticals by 15.2% during the 1st quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock worth $4,591,000 after acquiring an additional 24,605 shares during the period. Finally, Bank of Nova Scotia purchased a new position in shares of Eton Pharmaceuticals during the 1st quarter worth about $365,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.