Eton Pharmaceuticals (NASDAQ:ETON) Shares Gap Up – Here’s What Happened

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $27.61, but opened at $29.03. Eton Pharmaceuticals shares last traded at $28.6190, with a volume of 16,942 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ETON. HC Wainwright lifted their price target on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 15th. B. Riley Financial lifted their price target on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 20th. Zacks Research downgraded Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 17th. Craig Hallum upped their price target on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Wall Street Zen raised Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.00.

Eton Pharmaceuticals Stock Performance

The company has a market cap of $807.11 million, a PE ratio of -419.94 and a beta of 0.87. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $27.54 and its two-hundred day simple moving average is $20.54.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results 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 return on equity of 5.68% and a negative net margin of 1.70%.The company had revenue of $24.27 million for the quarter, compared to analysts’ expectations of $22.31 million. As a group, research analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of Eton Pharmaceuticals 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 completion of the sale, the insider owned 25,249 shares of the company’s stock, valued at approximately $794,586.03. The trade was a 43.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 100,000 shares of company stock worth $3,229,921. Insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Eton Pharmaceuticals by 4.9% in the 4th quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock valued at $309,000 after buying an additional 850 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Eton Pharmaceuticals by 11.1% in the 4th quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock valued at $210,000 after buying an additional 1,244 shares during the period. State of Wyoming lifted its holdings in shares of Eton Pharmaceuticals by 16.4% in the 1st quarter. State of Wyoming now owns 9,498 shares of the company’s stock valued at $234,000 after buying an additional 1,337 shares during the period. Man Group plc lifted its holdings in shares of Eton Pharmaceuticals by 6.0% in the 2nd quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after buying an additional 1,350 shares during the period. Finally, Quarry LP acquired a new position in shares of Eton Pharmaceuticals in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Eton Pharmaceuticals Company Profile

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.