Eton Pharmaceuticals, Inc. (NASDAQ:ETON – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $38.67 and last traded at $38.50, with a volume of 602205 shares changing hands. The stock had previously closed at $37.51.
Analyst Upgrades and Downgrades
ETON has been the subject of a number of research analyst reports. Zacks Research cut shares of Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. B. Riley Financial raised their target price on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. HC Wainwright lifted their target price on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $41.00.
Check Out Our Latest Analysis on ETON
Eton Pharmaceuticals Stock Performance
Eton Pharmaceuticals (NASDAQ:ETON – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The firm had revenue of $24.27 million during the quarter, compared to analyst estimates of $22.31 million. On average, research analysts predict that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current fiscal year.
Insider Activity
In other Eton Pharmaceuticals news, Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction dated 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 sale, the director owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,428,991.83. Following the completion of the sale, the insider directly owned 25,249 shares of the company’s stock, valued at $843,064.11. This represents a 62.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 150,000 shares of company stock worth $4,853,921 over the last 90 days. 16.49% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ETON. Quarry LP bought a new position in Eton Pharmaceuticals during the 3rd quarter worth $37,000. Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Eton Pharmaceuticals during the 4th quarter valued at $44,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth $74,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth $109,000. 27.86% of the stock is owned by institutional investors.
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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