Eton Pharmaceuticals (NASDAQ:ETON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) from a hold rating to a buy rating in a research report released on Saturday morning.

ETON has been the topic of several other research reports. B. Riley Financial lifted their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright raised their target price on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the stock a “buy” rating in a report on Friday. Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Thursday, January 22nd. Finally, Craig Hallum increased their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $23.81 on Friday. The business’s 50-day moving average price is $16.89 and its 200 day moving average price is $17.42. The firm has a market cap of $638.54 million, a P/E ratio of -132.27 and a beta of 1.19. Eton Pharmaceuticals has a 52-week low of $11.09 and a 52-week high of $23.90. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.83.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). Eton Pharmaceuticals had a negative return on equity of 2.60% and a negative net margin of 5.75%.The business had revenue of $21.28 million during the quarter, compared to the consensus estimate of $20.58 million. As a group, sell-side analysts predict that Eton Pharmaceuticals will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Eton Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of Eton Pharmaceuticals by 156.3% in the first quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after buying an additional 217,042 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Eton Pharmaceuticals by 34.9% during the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock valued at $2,274,000 after acquiring an additional 45,341 shares during the period. Jane Street Group LLC lifted its position in shares of Eton Pharmaceuticals by 49.1% in the 1st quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock valued at $1,245,000 after acquiring an additional 31,596 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Eton Pharmaceuticals by 33.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,050 shares of the company’s stock valued at $328,000 after acquiring an additional 5,734 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Eton Pharmaceuticals by 98.8% in the 2nd quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock worth $8,450,000 after purchasing an additional 294,617 shares during the period. Institutional investors and hedge funds 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.