Eton Pharmaceuticals (NASDAQ:ETON) Hits New 52-Week High After Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price hit a new 52-week high during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $23.90 and last traded at $23.12, with a volume of 205698 shares changing hands. The stock had previously closed at $22.32.

Several other research analysts have also commented on the stock. Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. B. Riley Financial upped their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday. Finally, HC Wainwright increased their price objective on Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Eton Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP acquired a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at $7,092,000. Geode Capital Management LLC increased its holdings in Eton Pharmaceuticals by 98.8% in the second quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock valued at $8,450,000 after buying an additional 294,617 shares during the last quarter. Soleus Capital Management L.P. purchased a new position in Eton Pharmaceuticals in the second quarter valued at $4,061,000. Millennium Management LLC raised its stake in Eton Pharmaceuticals by 156.3% in the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after buying an additional 217,042 shares in the last quarter. Finally, Oberweis Asset Management Inc. acquired a new stake in Eton Pharmaceuticals in the third quarter valued at $4,180,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Eton Pharmaceuticals Price Performance

The stock has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $17.42. The company has a market capitalization of $638.54 million, a PE ratio of -132.27 and a beta of 1.19. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, March 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The business had revenue of $21.28 million during the quarter, compared to analysts’ expectations of $20.58 million. Eton Pharmaceuticals had a negative net margin of 5.75% and a negative return on equity of 2.60%. Equities analysts anticipate that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current year.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, manufacturing and commercializing generic and proprietary pharmaceutical products for patients with rare and underserved diseases. Headquartered in West Palm Beach, Florida, the company leverages its expertise in hormone therapies and complex molecules to address treatment areas where patient need is high and competition is limited. Since its founding in 2016, Eton has sought to build a diversified portfolio that combines established generic medicines with targeted branded offerings.

The company’s product lineup includes thyroid hormone replacements such as desiccated thyroid and liothyronine, as well as pyrimethamine tablets indicated for toxoplasmosis.