Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Given Average Recommendation of “Hold” by Brokerages

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) has been given an average rating of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $41.00.

ETON has been the topic of several research reports. B. Riley Financial upped their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Craig Hallum upped their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Zacks Research lowered Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 17th. Finally, HC Wainwright upped their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, May 15th.

Insider Buying and Selling

In other news, insider David Krempa sold 42,797 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $33.39, for a total transaction of $1,428,991.83. Following the transaction, the insider owned 25,249 shares in the company, valued at $843,064.11. This trade represents a 62.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the transaction, the director owned 50,000 shares in the company, valued at $1,624,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 150,000 shares of company stock worth $4,853,921 in the last quarter. Insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Eton Pharmaceuticals by 37.8% in the 1st quarter. Bank of America Corp DE now owns 144,367 shares of the company’s stock valued at $3,563,000 after purchasing an additional 39,571 shares in the last quarter. EcoR1 Capital LLC raised its holdings in shares of Eton Pharmaceuticals by 7.0% during the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after acquiring an additional 141,394 shares during the period. Aristides Capital LLC raised its holdings in shares of Eton Pharmaceuticals by 15.2% during the 1st quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock worth $4,591,000 after acquiring an additional 24,605 shares during the period. Bank of Nova Scotia purchased a new position in shares of Eton Pharmaceuticals during the 1st quarter worth $365,000. Finally, Sei Investments Co. purchased a new position in shares of Eton Pharmaceuticals during the 1st quarter worth $1,432,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock opened at $32.72 on Tuesday. The company has a market capitalization of $896.27 million, a PE ratio of -467.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. The company has a 50-day simple moving average of $29.19 and a two-hundred day simple moving average of $21.84. Eton Pharmaceuticals has a one year low of $13.09 and a one year high of $35.66.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data 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). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The company had revenue of $24.27 million for the quarter, compared to analyst estimates of $22.31 million. Research analysts expect that Eton Pharmaceuticals will post 0.75 EPS for the current fiscal year.

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.