Eton Pharmaceuticals (NASDAQ:ETON) Sets New 52-Week High After Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Weiss Ratings upgraded the stock from a hold (c) rating to a buy (b-) rating. The stock traded as high as $67.27 and last traded at $65.9050, with a volume of 252,972 shares changing hands. The stock had previously closed at $64.35.

ETON has been the subject of several other reports. Canaccord Genuity Group lifted their target price on shares of Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. B. Riley Financial increased their price target on Eton Pharmaceuticals from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright increased their price target on Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Craig Hallum restated a “buy” rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a report on Thursday, October 15th. Finally, Zacks Research raised Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Eton Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $79.75.

Check Out Our Latest Analysis on Eton Pharmaceuticals

Insiders Place Their Bets

In other news, insider David Krempa sold 25,000 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the completion of the sale, the insider directly owned 37,025 shares of the company’s stock, valued at $2,409,216.75. The trade was a 40.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul V. Maier sold 50,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the sale, the director owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Eton Pharmaceuticals during the second quarter worth about $68,629,000. Nantahala Capital Management LLC purchased a new position in shares of Eton Pharmaceuticals in the 2nd quarter worth about $42,569,426. Pillsbury Lake Capital LLC acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $14,015,083. Panoramic Capital LLC acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $7,537,000. Finally, Cannell Capital LLC acquired a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $6,181,041. Institutional investors and hedge funds own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Up 1.3%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.58 and a current ratio of 1.79. The firm has a market cap of $1.97 billion, a PE ratio of 45.30 and a beta of 0.89. The stock has a fifty day moving average price of $55.19 and a 200-day moving average price of $37.24.

Eton Pharmaceuticals (NASDAQ:ETON – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.19. Eton Pharmaceuticals had a net margin of 35.35% and a return on equity of 104.82%. The firm had revenue of $57.93 million during the quarter, compared to the consensus estimate of $41.98 million. Research analysts expect that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current year.

About Eton Pharmaceuticals

(Get Free Report)

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.

Further Reading

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