Eton Pharmaceuticals (NASDAQ:ETON) Shares Down 7.4% – Here’s Why

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) was down 7.4% during mid-day trading on Wednesday. The stock traded as low as $56.22 and last traded at $54.8180. Approximately 148,892 shares were traded during trading, a decline of 66% from the average daily volume of 432,453 shares. The stock had previously closed at $59.19.

Analysts Set New Price Targets

ETON has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings upgraded Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Craig Hallum lifted their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. B. Riley Financial reiterated a “buy” rating and issued a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, HC Wainwright increased their price target on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Eton Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The stock has a market cap of $1.53 billion, a PE ratio of 139.24 and a beta of 0.90. The firm has a fifty day moving average price of $54.36 and a 200 day moving average price of $38.34.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The firm had revenue of $37.59 million for the quarter, compared to the consensus estimate of $27.11 million. Research analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Transactions at Eton Pharmaceuticals

In other news, Director Paul V. Maier sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Krempa sold 25,000 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the transaction, the insider owned 37,025 shares in the company, valued at approximately $2,409,216.75. This trade represents a 40.31% decrease in their position. The SEC filing for this sale provides additional information. 16.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ETON. Squarepoint Ops LLC purchased a new position in shares of Eton Pharmaceuticals during the second quarter worth $2,156,000. HighTower Advisors LLC boosted its holdings in Eton Pharmaceuticals by 187.2% in the second quarter. HighTower Advisors LLC now owns 52,907 shares of the company’s stock valued at $1,915,000 after purchasing an additional 34,484 shares during the last quarter. Sigma Planning Corp acquired a new stake in Eton Pharmaceuticals during the 2nd quarter worth about $1,086,000. Toth Financial Advisory Corp acquired a new stake in Eton Pharmaceuticals during the second quarter worth about $43,000. Finally, Navellier & Associates Inc. acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $652,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for underserved patient populations, with an emphasis on pediatric, rare disease and other difficult-to-treat conditions. The company generally pursues products with established clinical or regulatory pathways and works to bring them to market through its own commercial operations or strategic partnerships.

Eton’s marketed portfolio includes Eprontia, an oral solution formulation of topiramate used in the treatment of certain seizure disorders; Biorphen, an injectable phenylephrine product used to treat clinically important low blood pressure; and Alkindi Sprinkle, a hydrocortisone granule product for replacement therapy in children with adrenal insufficiency.