Eton Pharmaceuticals (NASDAQ:ETON) Stock Price Up 5.3% – Should You Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price traded up 5.3% during mid-day trading on Friday . The company traded as high as $37.79 and last traded at $39.1540. Approximately 39,264 shares changed hands during trading, a decline of 89% from the average session volume of 370,002 shares. The stock had previously closed at $37.19.

Analyst Upgrades and Downgrades

ETON has been the topic of several research analyst reports. HC Wainwright boosted 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. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Canaccord Genuity Group initiated coverage on shares of Eton Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $60.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Craig Hallum lifted their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.75.

Eton Pharmaceuticals Stock Up 6.5%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $33.14 and a 200-day simple moving average of $24.39. The firm has a market cap of $1.09 billion, a PE ratio of -565.98 and a beta of 0.86.

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

Insider Activity

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the sale, the director 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $1,428,991.83. Following the sale, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. This trade represents a 62.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 150,000 shares of company stock valued at $4,853,921 over the last ninety days. Corporate insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings 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 worth $4,620,000 after purchasing an additional 217,042 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Eton Pharmaceuticals by 34.9% during the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock valued at $2,274,000 after buying an additional 45,341 shares during the last quarter. Jane Street Group LLC increased its holdings in Eton Pharmaceuticals by 49.1% in the 1st quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock worth $1,245,000 after buying an additional 31,596 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Eton Pharmaceuticals by 114.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company’s stock worth $3,457,000 after buying an additional 129,467 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Eton Pharmaceuticals in the 2nd quarter worth about $41,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

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.