Eton Pharmaceuticals (NASDAQ:ETON) Trading Down 3.5% – Time to Sell?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) traded down 3.5% during trading on Friday . The stock traded as low as $19.08 and last traded at $19.01. 175,689 shares were traded during mid-day trading, a decline of 8% from the average session volume of 190,006 shares. The stock had previously closed at $19.70.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Craig Hallum lifted their price target on Eton Pharmaceuticals from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Eton Pharmaceuticals in a research report on Wednesday, March 19th. Finally, B. Riley reaffirmed a “buy” rating and issued a $26.00 price target (up from $24.00) on shares of Eton Pharmaceuticals in a research report on Friday.

Eton Pharmaceuticals Stock Down 3.9%

The firm has a market capitalization of $507.66 million, a P/E ratio of -86.05 and a beta of 1.22. The business has a 50-day moving average price of $14.82 and a 200-day moving average price of $13.92.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $17.28 million for the quarter, compared to the consensus estimate of $14.33 million. Eton Pharmaceuticals had a negative net margin of 15.81% and a negative return on equity of 36.29%. As a group, sell-side analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current year.

Institutional Trading of Eton Pharmaceuticals

Several institutional investors have recently bought and sold shares of ETON. Mink Brook Asset Management LLC acquired a new stake in Eton Pharmaceuticals in the 4th quarter valued at $6,071,000. Cannell Capital LLC acquired a new stake in Eton Pharmaceuticals in the 4th quarter valued at $5,079,000. Millennium Management LLC boosted its stake in Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company’s stock valued at $4,620,000 after buying an additional 217,042 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Eton Pharmaceuticals by 230.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 214,878 shares of the company’s stock valued at $2,862,000 after buying an additional 149,864 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its stake in Eton Pharmaceuticals by 12.0% in the 4th quarter. Nantahala Capital Management LLC now owns 1,118,483 shares of the company’s stock valued at $14,898,000 after buying an additional 119,750 shares in the last quarter. Institutional investors and hedge funds own 27.86% of the company’s stock.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.