HC Wainwright Has Positive Outlook for ETON FY2024 Earnings

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) – Equities research analysts at HC Wainwright raised their FY2024 EPS estimates for Eton Pharmaceuticals in a research note issued on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings of ($0.15) per share for the year, up from their previous forecast of ($0.17). HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Eton Pharmaceuticals’ current full-year earnings is ($0.15) per share. HC Wainwright also issued estimates for Eton Pharmaceuticals’ Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.44 EPS.

Separately, Craig Hallum raised their price target on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 28th.

Eton Pharmaceuticals Price Performance

Shares of ETON stock opened at $10.50 on Monday. The company has a market capitalization of $271.32 million, a price-to-earnings ratio of -47.73 and a beta of 1.25. The company’s fifty day moving average price is $7.62 and its 200-day moving average price is $5.09. Eton Pharmaceuticals has a one year low of $3.03 and a one year high of $11.11.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nantahala Capital Management LLC bought a new position in Eton Pharmaceuticals during the second quarter valued at approximately $3,095,000. Westside Investment Management Inc. raised its holdings in shares of Eton Pharmaceuticals by 2.0% during the 2nd quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock worth $1,926,000 after acquiring an additional 11,440 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Eton Pharmaceuticals by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 272,696 shares of the company’s stock valued at $1,637,000 after acquiring an additional 32,365 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Eton Pharmaceuticals by 2.8% in the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock valued at $1,561,000 after purchasing an additional 7,029 shares in the last quarter. Finally, Wasatch Advisors LP bought a new stake in Eton Pharmaceuticals in the third quarter worth $1,431,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Insider Buying and Selling at Eton Pharmaceuticals

In related news, major shareholder Opaleye Management Inc. purchased 11,248 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were acquired at an average price of $7.22 per share, for a total transaction of $81,210.56. Following the purchase, the insider now directly owns 2,730,000 shares in the company, valued at $19,710,600. This trade represents a 0.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 85,600 shares of company stock valued at $462,674 in the last three months. 14.89% of the stock is currently owned by corporate insiders.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.