Eton Pharmaceuticals (NASDAQ:ETON) Earns Buy Rating from HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $70.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 32.78% from the stock’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Zacks Research upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday. B. Riley Financial reiterated 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. Canaccord Genuity Group increased 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. Finally, Craig Hallum boosted their target price on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Eton Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $67.50.

Eton Pharmaceuticals Trading Down 1.1%

Eton Pharmaceuticals stock traded down $0.61 during trading hours on Wednesday, reaching $52.72. The company had a trading volume of 296,812 shares, compared to its average volume of 449,306. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. The company has a 50-day moving average price of $56.13 and a 200 day moving average price of $40.69. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 139.21 and a beta of 0.90. Eton Pharmaceuticals has a 12-month low of $14.27 and a 12-month high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.24. The business 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%. Equities analysts forecast that Eton Pharmaceuticals will post 1.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David Krempa sold 4,166 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 43,381 shares of the company’s stock, valued at $2,388,991.67. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul V. Maier sold 50,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the sale, the director directly owned 59,745 shares in the company, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,166 shares of company stock valued at $4,809,672 in the last ninety days. 16.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Eton Pharmaceuticals during the second quarter valued at $68,629,000. Nantahala Capital Management LLC bought a new position in shares of Eton Pharmaceuticals during the second quarter valued at $42,569,426. Pillsbury Lake Capital LLC bought a new position in shares of Eton Pharmaceuticals during the second quarter valued at $14,015,083. Panoramic Capital LLC bought a new position in shares of Eton Pharmaceuticals during the second quarter valued at $7,537,000. Finally, Cannell Capital LLC bought a new position in shares of Eton Pharmaceuticals during the second quarter valued at $6,181,041. 27.86% of the stock is 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.