Eton Pharmaceuticals, Inc. (NASDAQ:ETON – Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $63.83 and last traded at $61.48, with a volume of 608776 shares traded. The stock had previously closed at $63.43.
Analysts Set New Price Targets
ETON has been the subject of a number of analyst reports. HC Wainwright increased their price objective on shares of Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Friday, July 17th. Zacks Research lowered Eton Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Canaccord Genuity Group raised their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.50.
Check Out Our Latest Research Report on ETON
Eton Pharmaceuticals Trading Up 5.9%
Eton Pharmaceuticals (NASDAQ:ETON – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.24. The company had revenue of $37.59 million during the quarter, compared to analysts’ expectations of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. Equities research analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.67 EPS for the current year.
Insider Activity
In other news, insider David Krempa sold 37,524 shares of Eton Pharmaceuticals stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $31.49, for a total value of $1,181,630.76. Following the sale, the insider directly owned 25,249 shares of the company’s stock, valued at approximately $795,091.01. The trade was a 59.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jennifer Mckie Adams sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 50,000 shares in the company, valued at $1,624,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 107,203 shares of company stock valued at $3,424,929 in the last three months. Insiders own 16.49% of the company’s stock.
Hedge Funds Weigh In On Eton Pharmaceuticals
Several institutional investors have recently added to or reduced their stakes in ETON. Quarry LP purchased a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth approximately $37,000. Legal & General Group Plc purchased a new position in shares of Eton Pharmaceuticals in the second quarter valued at $41,000. Toth Financial Advisory Corp purchased a new position in shares of Eton Pharmaceuticals in the second quarter valued at $43,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Eton Pharmaceuticals in the fourth quarter valued at $44,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Eton Pharmaceuticals in the fourth quarter worth $74,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.
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.
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