Eton Pharmaceuticals (NASDAQ:ETON) Upgraded to Strong-Buy at Canaccord Genuity Group

Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by Canaccord Genuity Group to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Several other research firms have also commented on ETON. B. Riley Financial raised their price target on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. HC Wainwright increased their price objective on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Craig Hallum raised their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note 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 given a Sell rating to the company. According to MarketBeat, Eton Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock opened at $42.32 on Thursday. The business’s fifty day moving average price is $33.39 and its 200 day moving average price is $24.52. The stock has a market capitalization of $1.16 billion, a P/E ratio of -604.49 and a beta of 0.86. 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 has a twelve month low of $13.78 and a twelve month high of $42.65.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $22.31 million. As a group, research analysts anticipate that Eton Pharmaceuticals will post 0.75 earnings per share for the current year.

Insider Activity

In related news, insider David Krempa sold 19,679 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction of $619,298.13. Following the sale, the insider directly owned 25,249 shares in the company, valued at approximately $794,586.03. This trade represents a 43.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the business’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 value of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 150,000 shares of company stock worth $4,853,921. Company insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ETON. JPMorgan Chase & Co. lifted its holdings in Eton Pharmaceuticals by 44.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 351,417 shares of the company’s stock worth $7,636,000 after buying an additional 108,837 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in Eton Pharmaceuticals by 33.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 118,300 shares of the company’s stock valued at $2,000,000 after buying an additional 29,860 shares during the last quarter. Aristides Capital LLC grew its stake in shares of Eton Pharmaceuticals by 15.2% during the first quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock valued at $4,591,000 after acquiring an additional 24,605 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Eton Pharmaceuticals during the first quarter valued at about $2,023,000. Finally, State of Wyoming increased its position in shares of Eton Pharmaceuticals by 16.4% during the first quarter. State of Wyoming now owns 9,498 shares of the company’s stock worth $234,000 after acquiring an additional 1,337 shares during the last quarter. 27.86% of the stock is owned by institutional investors and hedge funds.

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.