Eton Pharmaceuticals (NASDAQ:ETON – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.
Several other brokerages have also recently commented on ETON. Craig Hallum increased their price target on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. HC Wainwright increased their price target on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. B. Riley Financial upped their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.
Check Out Our Latest Report on ETON
Eton Pharmaceuticals Stock Up 0.5%
Eton Pharmaceuticals (NASDAQ:ETON – Get Free Report) 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 company 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%. On average, equities analysts predict that Eton Pharmaceuticals will post 0.75 EPS for the current fiscal year.
Insider Buying and Selling at Eton Pharmaceuticals
In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction of $619,298.13. Following the transaction, the insider owned 25,249 shares in the company, valued at $794,586.03. This trade represents a 43.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 150,000 shares of company stock valued at $4,853,921 over the last 90 days. 16.49% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Eton Pharmaceuticals
Several hedge funds and other institutional investors have recently made changes to their positions in ETON. Soleus Capital Management L.P. bought a new position in Eton Pharmaceuticals in the second quarter valued at approximately $4,061,000. Millennium Management LLC raised its holdings in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock worth $4,620,000 after buying an additional 217,042 shares in the last quarter. Oberweis Asset Management Inc. bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth $4,180,000. BNP Paribas Financial Markets raised its stake in Eton Pharmaceuticals by 162.0% during the third quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company’s stock worth $4,993,000 after acquiring an additional 142,094 shares in the last quarter. Finally, EcoR1 Capital LLC lifted its stake in Eton Pharmaceuticals by 7.0% in the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after purchasing an additional 141,394 shares during the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.
Eton Pharmaceuticals Company Profile
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.
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