Zacks Research Downgrades Eton Pharmaceuticals (NASDAQ:ETON) to Strong Sell

Eton Pharmaceuticals (NASDAQ:ETON) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

ETON has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Craig Hallum lifted their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 20th. B. Riley Financial boosted their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, HC Wainwright increased their target price on Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.00.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock opened at $37.51 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21. Eton Pharmaceuticals has a 1 year low of $13.76 and a 1 year high of $38.62. The firm’s 50-day simple moving average is $32.85 and its 200-day simple moving average is $24.10. The firm has a market cap of $1.03 billion, a PE ratio of -535.78 and a beta of 0.86.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The firm had revenue of $24.27 million during the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. Equities analysts forecast that Eton Pharmaceuticals will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, insider David Krempa sold 42,797 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $33.39, for a total value of $1,428,991.83. Following the sale, the insider directly owned 25,249 shares in the company, valued at approximately $843,064.11. The trade was a 62.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the sale, the director directly owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 150,000 shares of company stock valued at $4,853,921. Company insiders own 16.49% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after purchasing an additional 217,042 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Eton Pharmaceuticals by 34.9% in the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company’s stock worth $2,274,000 after acquiring an additional 45,341 shares in the last quarter. Jane Street Group LLC increased its position in shares of Eton Pharmaceuticals by 49.1% in the first quarter. Jane Street Group LLC now owns 95,919 shares of the company’s stock worth $1,245,000 after acquiring an additional 31,596 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eton Pharmaceuticals by 114.5% during the second quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company’s stock valued at $3,457,000 after acquiring an additional 129,467 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Eton Pharmaceuticals during the second quarter valued at approximately $41,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, manufacturing and commercializing generic and proprietary pharmaceutical products for patients with rare and underserved diseases. Headquartered in West Palm Beach, Florida, the company leverages its expertise in hormone therapies and complex molecules to address treatment areas where patient need is high and competition is limited. Since its founding in 2016, Eton has sought to build a diversified portfolio that combines established generic medicines with targeted branded offerings.

The company’s product lineup includes thyroid hormone replacements such as desiccated thyroid and liothyronine, as well as pyrimethamine tablets indicated for toxoplasmosis.