Eton Pharmaceuticals’ (ETON) “Buy” Rating Reaffirmed at HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $70.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 31.06% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Craig Hallum raised their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. B. Riley Financial restated a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research report on Friday, August 14th. Weiss Ratings upgraded Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Finally, Zacks Research upgraded Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $67.50.

Eton Pharmaceuticals Stock Performance

ETON traded up $0.08 during midday trading on Wednesday, reaching $53.41. The company had a trading volume of 210,767 shares, compared to its average volume of 448,916. The business has a 50-day moving average of $56.13 and a two-hundred day moving average of $40.69. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41. Eton Pharmaceuticals has a 1 year low of $14.27 and a 1 year high of $66.37. The company has a market cap of $1.53 billion, a P/E ratio of 140.96 and a beta of 0.90.

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

Insiders Place Their Bets

In other Eton Pharmaceuticals news, insider David Krempa sold 4,166 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $55.07, for a total transaction of $229,421.62. Following the completion of the transaction, the insider owned 43,381 shares of the company’s stock, valued at $2,388,991.67. This represents a 8.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction 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 trade represents a 45.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ETON. Toth Financial Advisory Corp grew its holdings in Eton Pharmaceuticals by 41.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 1,700 shares of the company’s stock valued at $88,000 after buying an additional 500 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $2,156,000. HighTower Advisors LLC raised its holdings in shares of Eton Pharmaceuticals by 187.2% during the 2nd quarter. HighTower Advisors LLC now owns 52,907 shares of the company’s stock worth $1,915,000 after acquiring an additional 34,484 shares in the last quarter. Sigma Planning Corp bought a new stake in Eton Pharmaceuticals in the second quarter worth $1,086,000. Finally, Navellier & Associates Inc. purchased a new stake in Eton Pharmaceuticals during the second quarter valued at $652,000. 27.86% of the stock is currently owned by hedge funds and other 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.