Eton Pharmaceuticals (NASDAQ:ETON) Shares Gap Down – Here’s Why

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares gapped down before the market opened on Thursday . The stock had previously closed at $26.97, but opened at $26.04. Eton Pharmaceuticals shares last traded at $25.1090, with a volume of 86,892 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. B. Riley Financial upped their price target on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Zacks Research upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Craig Hallum boosted their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. Finally, HC Wainwright raised their target price on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.33.

Eton Pharmaceuticals Trading Up 2.5%

The stock has a market capitalization of $683.09 million, a P/E ratio of -139.10 and a beta of 0.97. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $20.65 and a two-hundred day moving average price of $18.28.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The company had revenue of $21.28 million during the quarter, compared to the consensus estimate of $20.58 million. Eton Pharmaceuticals had a negative return on equity of 2.60% and a negative net margin of 5.75%. On average, analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ETON. Opaleye Management Inc. lifted its holdings in shares of Eton Pharmaceuticals by 0.3% during the 2nd quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock worth $40,755,000 after acquiring an additional 7,930 shares during the period. Vanguard Group Inc. increased its stake in Eton Pharmaceuticals by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after acquiring an additional 31,942 shares during the last quarter. State Street Corp raised its position in Eton Pharmaceuticals by 14.5% during the fourth quarter. State Street Corp now owns 501,925 shares of the company’s stock valued at $8,488,000 after purchasing an additional 63,480 shares in the last quarter. Cannell Capital LLC raised its position in Eton Pharmaceuticals by 17.3% during the third quarter. Cannell Capital LLC now owns 455,405 shares of the company’s stock valued at $9,896,000 after purchasing an additional 67,230 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Eton Pharmaceuticals by 156.3% during the first 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 during the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.

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.