Eton Pharmaceuticals (NASDAQ:ETON) Sets New 12-Month High – Time to Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price hit a new 52-week high on Thursday . The company traded as high as $63.83 and last traded at $61.48, with a volume of 608776 shares. The stock had previously closed at $63.43.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group raised their target price on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Craig Hallum increased their price objective on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. B. Riley Financial reaffirmed a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Friday, July 17th. Finally, Zacks Research cut shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $67.50.

Eton Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 161.79 and a beta of 0.86. The company has a fifty day moving average price of $40.97 and a two-hundred day moving average price of $29.68.

Eton Pharmaceuticals (NASDAQ:ETON) last released its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The firm had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. As a group, equities research analysts expect that Eton Pharmaceuticals, Inc. will post 0.67 EPS for the current year.

Insider Activity

In other news, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals 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 of the company’s stock, valued at $1,624,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Krempa sold 42,797 shares of the business’s 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 completion of the sale, the insider owned 25,249 shares in the company, valued at $843,064.11. The trade was a 62.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 150,000 shares of company stock valued at $4,853,921. Insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sei Investments Co. bought a new stake in shares of Eton Pharmaceuticals during the 1st quarter worth $1,432,000. EcoR1 Capital LLC raised its position in shares of Eton Pharmaceuticals by 7.0% during the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after purchasing an additional 141,394 shares during the period. Walleye Capital LLC purchased a new stake in shares of Eton Pharmaceuticals during the first quarter valued at $2,023,000. Wasatch Advisors LP purchased a new stake in shares of Eton Pharmaceuticals during the second quarter valued at $3,357,000. Finally, Aristides Capital LLC boosted its position in shares of Eton Pharmaceuticals by 15.2% in the 1st quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock valued at $4,591,000 after purchasing an additional 24,605 shares during the period. Institutional investors 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.