Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 1-Year High on Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price hit a new 52-week high during mid-day trading on Tuesday after Weiss Ratings upgraded the stock from a hold (c) rating to a buy (b-) rating. The company traded as high as $67.27 and last traded at $65.9050, with a volume of 252,972 shares changing hands. The stock had previously closed at $64.35.

Other equities research analysts have also recently issued reports about the stock. Zacks Research raised shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. B. Riley Financial lifted their target price on shares of Eton Pharmaceuticals from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday. Craig Hallum reiterated a “buy” rating and set a $78.00 price target on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. HC Wainwright boosted their price target on shares of Eton Pharmaceuticals from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Finally, Canaccord Genuity Group increased their price target on shares of Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Eton Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $79.75.

Insider Buying and Selling

In related news, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the sale, the insider directly owned 37,025 shares in the company, valued at $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $59.07, for a total value of $2,953,500.00. Following the sale, the director 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. In the last 90 days, insiders sold 79,166 shares of company stock valued at $4,809,672. 16.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC purchased a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth about $264,000. Global Retirement Partners LLC bought a new stake in Eton Pharmaceuticals during the third quarter worth about $26,000. Morse Asset Management Inc purchased a new stake in Eton Pharmaceuticals in the third quarter worth about $35,000. JW Asset Management LLC purchased a new stake in Eton Pharmaceuticals in the third quarter worth about $690,000. Finally, Russell Investments Group Ltd. grew its holdings in Eton Pharmaceuticals by 296.3% in the third quarter. Russell Investments Group Ltd. now owns 32,362 shares of the company’s stock worth $1,666,000 after purchasing an additional 24,195 shares during the period. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Up 1.3%

The stock’s 50 day simple moving average is $55.19 and its two-hundred day simple moving average is $37.24. The firm has a market cap of $1.97 billion, a P/E ratio of 45.30 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.58.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.19. Eton Pharmaceuticals had a net margin of 35.35% and a return on equity of 104.82%. The firm had revenue of $57.93 million during the quarter, compared to analyst estimates of $41.98 million. As a group, research analysts forecast that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.