HC Wainwright Forecasts Strong Price Appreciation for Eton Pharmaceuticals (NASDAQ:ETON) Stock

Eton Pharmaceuticals (NASDAQ:ETON) had its target price lifted by research analysts at HC Wainwright from $35.00 to $37.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 117.78% from the company’s current price.

A number of other analysts have also recently commented on the stock. Wall Street Zen cut shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note 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 research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Eton Pharmaceuticals has an average rating of “Hold” and an average target price of $30.33.

Eton Pharmaceuticals Stock Performance

Shares of ETON stock opened at $16.99 on Monday. Eton Pharmaceuticals has a 12-month low of $11.09 and a 12-month high of $23.00. The business’s fifty day simple moving average is $16.17 and its 200-day simple moving average is $17.23. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 1.19. The company has a market cap of $455.67 million, a PE ratio of -67.96 and a beta of 1.19.

Institutional Inflows and Outflows

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