Eton Pharmaceuticals (NASDAQ:ETON) Hits New 1-Year High – Time to Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.20 and last traded at $25.1820, with a volume of 6358 shares traded. The stock had previously closed at $25.06.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ETON shares. Craig Hallum increased their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. B. Riley Financial increased their target price on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Wall Street Zen upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Finally, Zacks Research upgraded Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Eton Pharmaceuticals Price Performance

The firm has a market cap of $685.65 million, a PE ratio of -140.52 and a beta of 0.97. The firm has a fifty day simple moving average of $18.85 and a two-hundred day simple moving average of $17.92. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.57.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). The firm had revenue of $21.28 million for 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 predict that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Trading of Eton Pharmaceuticals

Several hedge funds have recently made changes to their positions in ETON. State of Alaska Department of Revenue purchased a new stake in shares of Eton Pharmaceuticals during the 3rd quarter valued at about $30,000. Quarry LP purchased a new position in shares of Eton Pharmaceuticals in the 3rd quarter worth approximately $37,000. Legal & General Group Plc purchased a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eton Pharmaceuticals in the 4th quarter worth approximately $44,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Eton Pharmaceuticals in the 4th quarter worth approximately $74,000. 27.86% of the stock is currently owned by hedge funds and other 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.