Eton Pharmaceuticals (NASDAQ:ETON) Raised to Strong-Buy at Zacks Research

Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

A number of other brokerages have also commented on ETON. Canaccord Genuity Group upped their target price on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Craig Hallum raised their price target on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. B. Riley Financial reissued a “buy” rating and set a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, HC Wainwright lifted their price objective on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $67.50.

Eton Pharmaceuticals Stock Down 3.5%

Eton Pharmaceuticals stock opened at $53.33 on Monday. The business’s 50-day simple moving average is $56.13 and its two-hundred day simple moving average is $40.69. 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 company has a market cap of $1.52 billion, a PE ratio of 140.34 and a beta of 0.90. Eton Pharmaceuticals has a fifty-two week low of $14.27 and a fifty-two week high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $27.11 million. Equities analysts anticipate that Eton Pharmaceuticals will post 1.13 EPS for the current year.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 4,166 shares of the stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total transaction of $229,421.62. Following the sale, the insider directly owned 43,381 shares of the company’s stock, valued at approximately $2,388,991.67. This trade represents a 8.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul V. Maier sold 50,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the sale, the director directly owned 59,745 shares in the company, valued at $3,529,137.15. This represents a 45.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is owned by corporate insiders.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds have recently modified their holdings of ETON. Toth Financial Advisory Corp acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $43,000. Persistent Asset Partners Ltd purchased a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at approximately $90,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eton Pharmaceuticals during the 4th quarter valued at approximately $50,000. State of Wyoming acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at $107,000. Finally, Quantbot Technologies LP acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at $165,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, acquiring, and commercializing treatments for rare diseases and other underserved patient populations. The company’s strategy includes advancing proprietary product candidates and obtaining rights to established medicines that can address unmet medical needs.

Eton’s portfolio has included products such as Eprontia (topiramate) oral solution for certain seizure disorders and migraine prevention, Biorphen (phenylephrine hydrochloride) injection for the treatment of clinically important hypotension, and specialty medicines used in the management of rare metabolic and endocrine conditions.