Eton Pharmaceuticals (NASDAQ:ETON) Trading 13.3% Higher – What’s Next?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price shot up 13.3% on Friday . The stock traded as high as $27.13 and last traded at $27.3190. 121,202 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 328,250 shares. The stock had previously closed at $24.12.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ETON. Zacks Research downgraded shares of Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 17th. HC Wainwright lifted their price objective on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. B. Riley Financial lifted their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Craig Hallum lifted their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.33.

Eton Pharmaceuticals Price Performance

The company has a market capitalization of $773.06 million, a P/E ratio of -156.97 and a beta of 0.97. The business’s 50-day simple moving average is $21.94 and its 200 day simple moving average is $18.48. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $21.28 million for the quarter, compared to the consensus estimate of $20.58 million. As a group, sell-side analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.82 EPS for the current year.

Institutional Trading of Eton Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth about $30,000. Quarry LP bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth about $37,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth about $44,000. Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth about $41,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth about $74,000. 27.86% of the stock is currently owned by institutional investors.

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.