Eton Pharmaceuticals (NASDAQ:ETON) Director Paul Maier Sells 50,000 Shares of Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Director Paul Maier sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director directly owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Eton Pharmaceuticals Stock Down 4.6%

Shares of NASDAQ:ETON opened at $59.78 on Friday. The stock’s fifty day simple moving average is $45.17 and its 200-day simple moving average is $31.90. Eton Pharmaceuticals, Inc. has a 52-week low of $14.27 and a 52-week high of $66.37. The company has a market capitalization of $1.71 billion, a P/E ratio of 157.32 and a beta of 0.86. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. The company had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. As a group, equities research analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ETON. Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Craig Hallum upped their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Canaccord Genuity Group boosted their price objective on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, B. Riley Financial reissued a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Four research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ETON. Quarry LP acquired a new position in Eton Pharmaceuticals in the third quarter valued at approximately $37,000. Legal & General Group Plc bought a new position in shares of Eton Pharmaceuticals in the second quarter worth $41,000. Toth Financial Advisory Corp bought a new position in Eton Pharmaceuticals in the 2nd quarter valued at about $43,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $44,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $90,000. 27.86% of the stock is 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.