Eton Pharmaceuticals (NASDAQ:ETON) Stock Price Down 7.4% – Should You Sell?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price dropped 7.4% during mid-day trading on Wednesday. The company traded as low as $56.22 and last traded at $54.8180. 148,892 shares changed hands during trading, a decline of 66% from the average daily volume of 432,453 shares. The stock had previously closed at $59.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ETON shares. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Zacks Research upgraded shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings raised shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Craig Hallum boosted their price objective on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Canaccord Genuity Group upped their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.50.

Eton Pharmaceuticals Price Performance

The business has a fifty day moving average of $54.67 and a two-hundred day moving average of $38.80. 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 firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 136.79 and a beta of 0.90.

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

Insider Transactions at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, 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 value of $2,953,500.00. Following the transaction, the director directly owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This represents a 45.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Krempa sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $65.07, for a total value of $1,626,750.00. Following the sale, the insider owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. This represents a 40.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ETON. Toth Financial Advisory Corp bought a new position in Eton Pharmaceuticals during the 2nd quarter worth $43,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eton Pharmaceuticals in the fourth quarter valued at about $50,000. Persistent Asset Partners Ltd bought a new stake in shares of Eton Pharmaceuticals in the second quarter valued at about $90,000. State of Wyoming acquired a new position in shares of Eton Pharmaceuticals in the second quarter valued at about $107,000. Finally, Quantbot Technologies LP acquired a new position in shares of Eton Pharmaceuticals in the second quarter valued at about $165,000. 27.86% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Company Profile

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.