Eton Pharmaceuticals (NASDAQ:ETON) Sets New 12-Month High – Still a Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $27.24 and last traded at $27.10, with a volume of 5826 shares changing hands. The stock had previously closed at $27.12.

Analyst Upgrades and Downgrades

ETON has been the topic of a number of analyst reports. Zacks Research upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. Wall Street Zen upgraded shares of Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. Craig Hallum lifted their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, March 20th. B. Riley Financial lifted their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.33.

Eton Pharmaceuticals Stock Down 9.4%

The company has a market capitalization of $666.55 million, a PE ratio of -135.71 and a beta of 0.97. The firm’s 50-day simple moving average is $20.45 and its 200 day simple moving average is $18.26. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.57.

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

Institutional Investors Weigh In On Eton Pharmaceuticals

Several institutional investors have recently made changes to their positions in ETON. State of Alaska Department of Revenue purchased a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth $30,000. Quarry LP purchased a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth $37,000. Legal & General Group Plc purchased a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth $44,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Eton Pharmaceuticals during the 4th quarter worth $74,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Company Profile

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.