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

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $67.27 and last traded at $65.9050, with a volume of 252,972 shares changing hands. The stock had previously closed at $64.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Craig Hallum reissued a “buy” rating and set a $78.00 price target on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Weiss Ratings raised Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Canaccord Genuity Group lifted their target price on Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright lifted their target price on Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday. Finally, B. Riley Financial reissued a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $77.00.

Eton Pharmaceuticals Trading Up 2.2%

The company has a market cap of $1.88 billion, a price-to-earnings ratio of 43.71 and a beta of 0.89. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $54.89 and its 200-day moving average price is $36.71.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. The business had revenue of $57.93 million for the quarter, compared to analyst estimates of $41.98 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. On average, equities analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul V. Maier sold 50,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the transaction, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Krempa sold 4,166 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total value of $229,421.62. Following the transaction, the insider owned 43,381 shares in the company, valued at approximately $2,388,991.67. This trade represents a 8.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 79,166 shares of company stock valued at $4,809,672. Corporate insiders own 16.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in shares of Eton Pharmaceuticals during the third quarter worth $35,000. JW Asset Management LLC acquired a new position in shares of Eton Pharmaceuticals in the third quarter valued at about $690,000. Russell Investments Group Ltd. grew its stake in shares of Eton Pharmaceuticals by 296.3% in the third quarter. Russell Investments Group Ltd. now owns 32,362 shares of the company’s stock valued at $1,666,000 after acquiring an additional 24,195 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Eton Pharmaceuticals during the third quarter worth about $240,000. Finally, Kornitzer Capital Management Inc. KS bought a new position in Eton Pharmaceuticals during the third quarter worth about $830,000. 27.86% of the stock is owned by institutional investors and hedge funds.

About Eton Pharmaceuticals

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.