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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price hit a new 52-week high on Friday . The stock traded as high as $35.70 and last traded at $35.5750, with a volume of 9337 shares. The stock had previously closed at $34.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. B. Riley Financial increased their target price on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. 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. Finally, Craig Hallum boosted their price target on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eton Pharmaceuticals has an average rating of “Hold” and a consensus target price of $41.00.

Eton Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The company has a market capitalization of $971.46 million, a P/E ratio of -506.56 and a beta of 0.87. The business’s fifty day simple moving average is $29.64 and its 200-day simple moving average is $22.21.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. As a group, equities analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the 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 completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Krempa sold 42,797 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 25,249 shares of the company’s stock, valued at $843,064.11. This represents a 62.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 150,000 shares of company stock valued at $4,853,921. 16.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Large investors have recently bought and sold shares of the business. Opaleye Management Inc. raised its stake in Eton Pharmaceuticals by 0.3% during the second quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock valued at $40,755,000 after purchasing an additional 7,930 shares in the last quarter. EcoR1 Capital LLC grew its stake in shares of Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after buying an additional 141,394 shares in the last quarter. Vanguard Group Inc. grew its stake 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 worth $29,208,000 after buying an additional 31,942 shares in the last quarter. State Street Corp increased its holdings in shares of Eton Pharmaceuticals by 14.5% in the 4th quarter. State Street Corp now owns 501,925 shares of the company’s stock worth $8,488,000 after buying an additional 63,480 shares during the last quarter. Finally, Cannell Capital LLC increased its holdings in shares of Eton Pharmaceuticals by 17.3% in the 3rd quarter. Cannell Capital LLC now owns 455,405 shares of the company’s stock worth $9,896,000 after buying an additional 67,230 shares during the last quarter. Institutional investors own 27.86% of the company’s stock.

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.