Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 52-Week High on Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price hit a new 52-week high during mid-day trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $21.88 and last traded at $21.96, with a volume of 38837 shares. The stock had previously closed at $21.27.

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

Insider Buying and Selling at Eton Pharmaceuticals

In related news, CFO James R. Gruber sold 2,631 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $16.02, for a total transaction of $42,148.62. Following the completion of the transaction, the chief financial officer owned 204,753 shares of the company’s stock, valued at $3,280,143.06. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ETON. Man Group plc lifted its position in Eton Pharmaceuticals by 6.0% during the second quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after purchasing an additional 1,350 shares during the period. AlphaQuest LLC raised its stake in Eton Pharmaceuticals by 44.4% during the 2nd quarter. AlphaQuest LLC now owns 5,948 shares of the company’s stock valued at $85,000 after buying an additional 1,830 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $37,000. Legal & General Group Plc bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter valued at $41,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Eton Pharmaceuticals by 33.1% in 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 last quarter. Institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Up 5.7%

The company has a market cap of $602.91 million, a P/E ratio of -140.50 and a beta of 1.10. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $17.05 and a 200 day moving average of $15.94.

Eton Pharmaceuticals (NASDAQ:ETON) last posted 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 firm had revenue of $18.93 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Eton Pharmaceuticals Company Profile

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.