Eton Pharmaceuticals (NASDAQ:ETON) Given Buy Rating at HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $70.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 41.34% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Zacks Research raised shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Canaccord Genuity Group lifted their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Weiss Ratings raised shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. B. Riley Financial reissued a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Finally, Craig Hallum lifted their price objective on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $71.50.

Eton Pharmaceuticals Price Performance

ETON traded down $0.79 during trading on Wednesday, hitting $49.53. 224,104 shares of the company traded hands, compared to its average volume of 449,127. The company has a market cap of $1.42 billion, a PE ratio of 129.84 and a beta of 0.90. The stock’s 50-day simple moving average is $56.49 and its two-hundred day simple moving average is $41.29. Eton Pharmaceuticals has a 1 year low of $14.27 and a 1 year high of $66.37. The company has a current ratio of 1.52, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41.

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

Insider Transactions at Eton Pharmaceuticals

In related news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals 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 completion of the transaction, the director directly owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Krempa sold 25,000 shares of Eton Pharmaceuticals stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the transaction, the insider directly owned 37,025 shares of the company’s stock, valued at approximately $2,409,216.75. This represents a 40.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 79,166 shares of company stock valued at $4,809,672. 16.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in Eton Pharmaceuticals during the 2nd quarter valued at about $1,531,000. Bank of New York Mellon Corp bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $4,281,000. Squarepoint Ops LLC bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $2,156,000. Jefferies Financial Group Inc. bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $1,232,000. Finally, Bank of Nova Scotia bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $623,000. 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.