Eton Pharmaceuticals (NASDAQ:ETON) Issues Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Eton Pharmaceuticals (NASDAQ:ETON) issued its earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.20), Zacks reports. The business had revenue of $22.46 million for the quarter, compared to the consensus estimate of $20.47 million. Eton Pharmaceuticals had a negative return on equity of 11.18% and a negative net margin of 9.50%.

Eton Pharmaceuticals Trading Down 11.7%

NASDAQ ETON traded down $2.24 on Friday, hitting $16.90. 1,054,876 shares of the stock were exchanged, compared to its average volume of 239,474. The company’s 50-day moving average price is $18.81 and its two-hundred day moving average price is $17.08. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.77 and a quick ratio of 1.16. Eton Pharmaceuticals has a 52-week low of $8.43 and a 52-week high of $23.00. The company has a market capitalization of $453.26 million, a price-to-earnings ratio of -67.60 and a beta of 1.12.

Insider Activity

In other news, CFO James R. Gruber sold 2,631 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $16.02, for a total value of $42,148.62. Following the completion of the sale, the chief financial officer owned 204,753 shares of the company’s stock, valued at $3,280,143.06. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 16.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Legal & General Group Plc acquired a new stake in Eton Pharmaceuticals during the 2nd quarter worth about $41,000. New York State Common Retirement Fund purchased a new stake in shares of Eton Pharmaceuticals in the second quarter worth approximately $115,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Eton Pharmaceuticals in the second quarter worth approximately $142,000. Invesco Ltd. acquired a new stake in shares of Eton Pharmaceuticals during the second quarter worth approximately $192,000. Finally, Engineers Gate Manager LP purchased a new position in Eton Pharmaceuticals during the second quarter valued at approximately $198,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ETON shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Wednesday, October 8th. Zacks Research raised Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen upgraded Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.67.

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.