Eton Pharmaceuticals (NASDAQ:ETON) Stock Price Up 5.9% – Should You Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares shot up 5.9% on Thursday. The stock traded as high as $59.10 and last traded at $58.8930. 396,284 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 430,245 shares. The stock had previously closed at $55.61.

Analysts Set New Price Targets

A number of research firms recently issued reports on ETON. 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. Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Craig Hallum increased their price objective 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. Canaccord Genuity Group raised their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, B. Riley Financial restated a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Eton Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Eton Pharmaceuticals Trading Down 3.0%

The firm has a market capitalization of $1.65 billion, a PE ratio of 151.79 and a beta of 0.90. 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 firm has a fifty day moving average of $53.68 and a 200 day moving average of $37.61.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, August 13th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. The firm had revenue of $37.59 million for the quarter, compared to the consensus estimate of $27.11 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. Equities research analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

Insider Activity at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $65.07, for a total value of $1,626,750.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul V. Maier sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 59,745 shares of the company’s stock, 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. 16.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds have recently bought and sold shares of ETON. EcoR1 Capital LLC raised its holdings in Eton Pharmaceuticals by 7.0% during the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after buying an additional 141,394 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $68,629,000. Nantahala Capital Management LLC acquired a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at about $42,569,426. Pillsbury Lake Capital LLC bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $14,015,083. Finally, Panoramic Capital LLC bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $7,537,000. 27.86% of the stock is owned by institutional investors and hedge funds.

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.