Eton Pharmaceuticals (NASDAQ:ETON) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $33.00) on shares of Eton Pharmaceuticals in a report on Thursday, May 29th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Eton Pharmaceuticals has a consensus rating of “Buy” and an average target price of $29.67.

Eton Pharmaceuticals Price Performance

Shares of ETON opened at $21.27 on Friday. The firm has a market cap of $570.46 million, a PE ratio of -132.94 and a beta of 1.10. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 1.14. The firm has a fifty day simple moving average of $16.89 and a two-hundred day simple moving average of $15.88. Eton Pharmaceuticals has a 1-year low of $5.63 and a 1-year high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its earnings results on Thursday, August 7th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). The company had revenue of $18.93 million for the quarter, compared to analysts’ expectations of $16.71 million. Eton Pharmaceuticals had a negative net margin of 7.10% and a negative return on equity of 0.73%. On average, equities analysts anticipate that Eton Pharmaceuticals will post -0.14 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James R. Gruber sold 2,631 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $16.02, for a total value of $42,148.62. Following the sale, the chief financial officer directly owned 204,753 shares of the company’s stock, valued at $3,280,143.06. This represents a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ETON. Man Group plc lifted its stake in shares of Eton Pharmaceuticals by 6.0% during the second quarter. Man Group plc now owns 23,754 shares of the company’s stock worth $338,000 after buying an additional 1,350 shares during the period. AlphaQuest LLC raised its stake in shares of Eton Pharmaceuticals by 44.4% in the 2nd quarter. AlphaQuest LLC now owns 5,948 shares of the company’s stock valued at $85,000 after acquiring an additional 1,830 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $37,000. Legal & General Group Plc purchased a new stake in Eton Pharmaceuticals during the 2nd quarter worth approximately $41,000. Finally, Envestnet Asset Management Inc. increased its stake in Eton Pharmaceuticals by 33.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 23,050 shares of the company’s stock worth $328,000 after buying an additional 5,734 shares during the period. 27.86% of the stock is currently owned by institutional investors.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.