Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 1-Year High – Here’s Why

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.50 and last traded at $37.2550, with a volume of 193976 shares. The stock had previously closed at $36.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. HC Wainwright lifted their target price on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research lowered shares of Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 17th. B. Riley Financial raised their target price on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Eton Pharmaceuticals Price Performance

The company has a 50 day simple moving average of $30.51 and a 200 day simple moving average of $22.77. The stock has a market cap of $1.02 billion, a P/E ratio of -533.00 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its 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). Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%.The business had revenue of $24.27 million for the quarter, compared to analyst estimates of $22.31 million. Sell-side analysts forecast that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Eton Pharmaceuticals

In other news, insider David Krempa sold 42,797 shares of the business’s stock in a transaction dated 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 sale, the insider owned 25,249 shares of the company’s stock, valued at approximately $843,064.11. The trade was a 62.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 50,000 shares in the company, valued at $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 150,000 shares of company stock worth $4,853,921. 16.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Opaleye Management Inc. lifted its position in shares of Eton Pharmaceuticals by 0.3% during the 2nd quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock worth $40,755,000 after buying an additional 7,930 shares during the last quarter. EcoR1 Capital LLC lifted its holdings in shares of Eton Pharmaceuticals by 7.0% during the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after purchasing an additional 141,394 shares during the period. Vanguard Group Inc. grew its position in shares of Eton Pharmaceuticals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after buying an additional 31,942 shares during the last quarter. State Street Corp increased its position in Eton Pharmaceuticals by 14.5% during the 4th quarter. State Street Corp now owns 501,925 shares of the company’s stock valued at $8,488,000 after purchasing an additional 63,480 shares during the period. Finally, Cannell Capital LLC lifted its holdings in Eton Pharmaceuticals by 17.3% in the third quarter. Cannell Capital LLC now owns 455,405 shares of the company’s stock valued at $9,896,000 after buying an additional 67,230 shares during the period. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Eton Pharmaceuticals Company Profile

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.