Eton Pharmaceuticals (NASDAQ:ETON) Shares Up 5.1% – Time to Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price was up 5.1% during trading on Wednesday. The stock traded as high as $55.96 and last traded at $56.0510. 52,455 shares were traded during mid-day trading, a decline of 88% from the average session volume of 447,982 shares. The stock had previously closed at $53.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ETON shares. HC Wainwright increased their target price on Eton Pharmaceuticals from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Craig Hallum upped their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Zacks Research upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Canaccord Genuity Group upped their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Eton Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $67.50.

Eton Pharmaceuticals Trading Up 0.2%

The firm has a market capitalization of $1.53 billion, a PE ratio of 140.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The company’s 50-day moving average price is $56.13 and its 200-day moving average price is $40.69.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. The company had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. On average, sell-side analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 earnings per share for the current year.

Insider Activity

In other news, insider David Krempa sold 25,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the transaction, the insider directly owned 37,025 shares in the company, valued at $2,409,216.75. The trade was a 40.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul V. Maier sold 50,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This represents a 45.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,166 shares of company stock worth $4,809,672 in the last 90 days. 16.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Toth Financial Advisory Corp boosted its stake in shares of Eton Pharmaceuticals by 41.7% during the third quarter. Toth Financial Advisory Corp now owns 1,700 shares of the company’s stock valued at $88,000 after acquiring an additional 500 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Eton Pharmaceuticals during the second quarter worth approximately $2,156,000. HighTower Advisors LLC lifted its holdings in shares of Eton Pharmaceuticals by 187.2% during the 2nd quarter. HighTower Advisors LLC now owns 52,907 shares of the company’s stock valued at $1,915,000 after acquiring an additional 34,484 shares in the last quarter. Sigma Planning Corp purchased a new stake in Eton Pharmaceuticals during the 2nd quarter worth $1,086,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Eton Pharmaceuticals in the second quarter worth about $652,000. 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, acquiring, and commercializing treatments for rare diseases and other underserved patient populations. The company’s strategy includes advancing proprietary product candidates and obtaining rights to established medicines that can address unmet medical needs.

Eton’s portfolio has included products such as Eprontia (topiramate) oral solution for certain seizure disorders and migraine prevention, Biorphen (phenylephrine hydrochloride) injection for the treatment of clinically important hypotension, and specialty medicines used in the management of rare metabolic and endocrine conditions.