Eton Pharmaceuticals (NASDAQ:ETON) Shares Up 6% – Still a Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) traded up 6% during trading on Thursday . The company traded as high as $19.23 and last traded at $19.1750. 286,500 shares changed hands during trading, an increase of 7% from the average session volume of 268,070 shares. The stock had previously closed at $18.09.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ETON shares. HC Wainwright increased their price target on Eton Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Wall Street Zen lowered Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.00.

Eton Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.25 and a current ratio of 1.63. The stock has a market cap of $509.88 million, a P/E ratio of -76.04 and a beta of 1.19. The firm has a 50-day moving average price of $16.26 and a 200-day moving average price of $17.26.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several large investors have recently made changes to their positions in ETON. Caitong International Asset Management Co. Ltd bought a new stake in Eton Pharmaceuticals in the fourth quarter worth $50,000. Invesco Ltd. raised its holdings in shares of Eton Pharmaceuticals by 46.1% during the fourth quarter. Invesco Ltd. now owns 19,691 shares of the company’s stock valued at $333,000 after purchasing an additional 6,213 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Eton Pharmaceuticals by 33.3% during the 4th quarter. XTX Topco Ltd now owns 32,527 shares of the company’s stock valued at $550,000 after buying an additional 8,128 shares during the period. Millennium Management LLC boosted its position in Eton Pharmaceuticals by 400.1% in the fourth quarter. Millennium Management LLC now owns 79,331 shares of the company’s stock worth $1,341,000 after purchasing an additional 63,469 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Eton Pharmaceuticals during the fourth quarter valued at approximately $178,000. 27.86% of the stock is currently 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.