Eton Pharmaceuticals (NASDAQ:ETON) Sets New 52-Week High – What’s Next?

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) reached a new 52-week high during trading on Tuesday . The stock traded as high as $45.27 and last traded at $44.9090, with a volume of 70432 shares changing hands. The stock had previously closed at $42.31.

Analyst Ratings Changes

Several analysts recently issued reports on ETON shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Canaccord Genuity Group initiated coverage on Eton Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $60.00 target price for the company. Zacks Research downgraded Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. HC Wainwright lifted their price target on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.50.

Eton Pharmaceuticals Price Performance

The business’s fifty day moving average price is $35.42 and its 200 day moving average price is $26.11. 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 stock has a market cap of $1.32 billion, a P/E ratio of -687.47 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 the consensus estimate of $0.10 by ($0.05). The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. Sell-side analysts forecast that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at $1,624,000. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Krempa sold 19,679 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total value of $619,298.13. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 150,000 shares of company stock worth $4,853,921. 16.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ETON. Quarry LP acquired a new stake in Eton Pharmaceuticals during the 3rd quarter worth approximately $37,000. Legal & General Group Plc acquired a new position in Eton Pharmaceuticals in the 2nd quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at $44,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at $74,000. Finally, SG Americas Securities LLC acquired a new position in shares of Eton Pharmaceuticals during the fourth quarter worth $109,000. Institutional investors own 27.86% of the company’s stock.

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.