Eton Pharmaceuticals (NASDAQ:ETON) Trading 5.3% Higher Following Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price was up 5.3% during trading on Friday after Canaccord Genuity Group upgraded the stock to a strong-buy rating. The company traded as high as $37.79 and last traded at $39.1540. Approximately 39,264 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 370,002 shares. The stock had previously closed at $37.19.

Several other equities research analysts have also recently weighed in on ETON. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Zacks Research lowered Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. HC Wainwright lifted their target price on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. Finally, Craig Hallum boosted their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Eton Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Insider Activity

In other news, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Krempa sold 19,679 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total value of $619,298.13. Following the sale, the insider directly owned 25,249 shares of the company’s stock, valued at $794,586.03. This represents a 43.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 150,000 shares of company stock valued at $4,853,921. 16.49% of the stock is owned by insiders.

Institutional Trading of Eton Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Eton Pharmaceuticals in the third quarter worth about $37,000. Legal & General Group Plc purchased a new stake in Eton Pharmaceuticals in the 2nd quarter valued at about $41,000. Caitong International Asset Management Co. Ltd bought a new position in Eton Pharmaceuticals in the 4th quarter worth about $44,000. China Universal Asset Management Co. Ltd. bought a new position in Eton Pharmaceuticals in the 4th quarter worth about $74,000. Finally, SG Americas Securities LLC purchased a new position in shares of Eton Pharmaceuticals during the fourth quarter worth approximately $109,000. 27.86% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Trading Up 13.8%

The stock’s 50-day moving average price is $33.39 and its 200 day moving average price is $24.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. The firm has a market capitalization of $1.16 billion, a PE ratio of -604.49 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The firm had revenue of $24.27 million during the quarter, compared to analysts’ expectations of $22.31 million. On average, sell-side analysts expect that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal 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.