Eton Pharmaceuticals (NASDAQ:ETON) Issues Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Eton Pharmaceuticals (NASDAQ:ETON) released its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.20), Zacks reports. The business had revenue of $22.46 million for the quarter, compared to the consensus estimate of $20.47 million. Eton Pharmaceuticals had a negative net margin of 9.50% and a negative return on equity of 11.18%.

Eton Pharmaceuticals Price Performance

ETON traded down $2.24 on Friday, reaching $16.90. The company had a trading volume of 1,054,876 shares, compared to its average volume of 239,474. The company has a market capitalization of $453.26 million, a P/E ratio of -67.60 and a beta of 1.12. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $18.81 and a 200-day moving average of $17.08. Eton Pharmaceuticals has a one year low of $8.43 and a one year high of $23.00.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, CFO James R. Gruber sold 2,631 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $16.02, for a total value of $42,148.62. Following the completion of the sale, the chief financial officer directly owned 204,753 shares of the company’s stock, valued at approximately $3,280,143.06. This represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 16.03% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ETON. Man Group plc boosted its stake in Eton Pharmaceuticals by 6.0% during the 2nd quarter. Man Group plc now owns 23,754 shares of the company’s stock valued at $338,000 after purchasing an additional 1,350 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Eton Pharmaceuticals in the second quarter valued at $41,000. Opaleye Management Inc. boosted its stake in Eton Pharmaceuticals by 0.3% during the second quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock valued at $40,755,000 after buying an additional 7,930 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Eton Pharmaceuticals during the second quarter worth about $115,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Eton Pharmaceuticals during the second quarter worth about $142,000. Institutional investors own 27.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ETON shares. Wall Street Zen raised shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.67.

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.