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

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

A number of brokerages recently issued reports on ETON. Zacks Research lowered Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, April 17th. HC Wainwright raised their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. Finally, Craig Hallum increased 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.

Insiders Place Their Bets

In other news, insider David Krempa sold 42,797 shares of the stock in a transaction 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 approximately $843,064.11. This represents a 62.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 150,000 shares of company stock worth $4,853,921 over the last quarter. Company insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in Eton Pharmaceuticals by 4.9% in the 4th quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock worth $309,000 after buying an additional 850 shares in the last quarter. Intech Investment Management LLC boosted its position in 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 last quarter. State of Wyoming grew its stake in shares of Eton Pharmaceuticals by 16.4% during the first quarter. State of Wyoming now owns 9,498 shares of the company’s stock valued at $234,000 after acquiring an additional 1,337 shares in the last quarter. Man Group plc grew its stake in shares of Eton Pharmaceuticals by 6.0% during the second quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Eton Pharmaceuticals during the third quarter worth about $37,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Eton Pharmaceuticals Trading Down 1.9%

Eton Pharmaceuticals stock traded down $0.72 during midday trading on Friday, reaching $36.61. The stock had a trading volume of 250,795 shares, compared to its average volume of 394,105. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -522.93 and a beta of 0.86. Eton Pharmaceuticals has a 52-week low of $13.76 and a 52-week high of $38.62. The company has a fifty day moving average of $32.44 and a 200 day moving average of $23.75.

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

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.