Craig Hallum Issues Positive Forecast for Eton Pharmaceuticals (NASDAQ:ETON) Stock Price

Eton Pharmaceuticals (NASDAQ:ETON) had its target price raised by Craig Hallum from $29.00 to $30.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 72.17% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. HC Wainwright upped their price objective on shares of Eton Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Zacks Research raised Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Eton Pharmaceuticals presently has an average rating of “Hold” and an average target price of $31.00.

Eton Pharmaceuticals Trading Down 4.0%

ETON traded down $0.73 during trading on Tuesday, hitting $17.43. The company’s stock had a trading volume of 12,314 shares, compared to its average volume of 268,590. The firm has a market capitalization of $467.34 million, a P/E ratio of -69.16 and a beta of 1.19. Eton Pharmaceuticals has a twelve month low of $11.09 and a twelve month high of $23.00. The stock’s fifty day moving average price is $16.20 and its 200-day moving average price is $17.24. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ETON. Divisadero Street Capital Management LP bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter worth approximately $7,092,000. Geode Capital Management LLC increased its position in Eton Pharmaceuticals by 98.8% in the second quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock worth $8,450,000 after buying an additional 294,617 shares during the last quarter. Soleus Capital Management L.P. bought a new stake in shares of Eton Pharmaceuticals in the second quarter valued at $4,061,000. Millennium Management LLC raised 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 acquiring an additional 217,042 shares during the period. Finally, Oberweis Asset Management Inc. purchased a new stake in Eton Pharmaceuticals during the third quarter valued at about $4,180,000. 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.