Eton Pharmaceuticals (NASDAQ:ETON) Stock Rating Upgraded by Canaccord Genuity Group

Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by research analysts at Canaccord Genuity Group to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. B. Riley Financial boosted their price target on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Zacks Research cut Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Craig Hallum upped their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, HC Wainwright upped their target price on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eton Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Eton Pharmaceuticals Stock Performance

NASDAQ:ETON opened at $42.32 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Eton Pharmaceuticals has a fifty-two week low of $13.78 and a fifty-two week high of $42.65. The stock has a market cap of $1.16 billion, a PE ratio of -604.49 and a beta of 0.86. The firm’s fifty day simple moving average is $33.39 and its 200-day simple moving average is $24.52.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%.The company had revenue of $24.27 million for the quarter, compared to analysts’ expectations of $22.31 million. Analysts expect that Eton Pharmaceuticals will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, insider David Krempa sold 42,797 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $33.39, for a total value of $1,428,991.83. Following the completion of the transaction, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. The trade was a 62.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 50,000 shares in the company, valued at $1,624,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 150,000 shares of company stock valued at $4,853,921 in the last three months. 16.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth about $37,000. Legal & General Group Plc acquired a new position in shares of Eton Pharmaceuticals in the second quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $44,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Eton Pharmaceuticals during the fourth quarter valued at approximately $74,000. Finally, SG Americas Securities LLC acquired a new stake in Eton Pharmaceuticals during the fourth quarter worth approximately $109,000. 27.86% of the stock is currently owned by hedge funds and other 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.