Eton Pharmaceuticals (NASDAQ:ETON) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. B. Riley Financial lifted their price target on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. HC Wainwright raised their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Zacks Research downgraded Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $42.32 on Thursday. The stock has a market capitalization of $1.16 billion, a PE ratio of -604.49 and a beta of 0.86. Eton Pharmaceuticals has a 1-year low of $13.78 and a 1-year high of $42.65. The firm has a fifty day simple moving average of $33.39 and a 200 day simple moving average of $24.52. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62.

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

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 42,797 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $33.39, for a total value of $1,428,991.83. Following the transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. This represents a 62.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the sale, the director owned 50,000 shares of the company’s stock, valued at $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 150,000 shares of company stock worth $4,853,921. Insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in Eton Pharmaceuticals during the 3rd quarter worth $37,000. Legal & General Group Plc acquired a new position in shares of Eton Pharmaceuticals in the second quarter valued at about $41,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at about $44,000. China Universal Asset Management Co. Ltd. bought a new position in Eton Pharmaceuticals during the fourth quarter worth about $74,000. Finally, SG Americas Securities LLC acquired a new stake in Eton Pharmaceuticals in the 4th quarter worth about $109,000. 27.86% of the stock is currently owned by institutional investors.

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.