Insider Selling: Eton Pharmaceuticals (NASDAQ:ETON) Director Sells 50,000 Shares of Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Director Jennifer Mckie Adams sold 50,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total transaction of $1,624,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Eton Pharmaceuticals Stock Up 1.3%

Shares of ETON stock traded up $0.41 on Wednesday, reaching $32.76. 341,840 shares of the company were exchanged, compared to its average volume of 356,477. The company has a market cap of $897.36 million, a price-to-earnings ratio of -467.93 and a beta of 0.87. The company has a 50-day moving average of $28.65 and a 200-day moving average of $21.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.88. Eton Pharmaceuticals, Inc. has a one year low of $13.09 and a one year high of $35.66.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%. Analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Eton Pharmaceuticals by 37.8% during the 1st quarter. Bank of America Corp DE now owns 144,367 shares of the company’s stock valued at $3,563,000 after acquiring an additional 39,571 shares in the last quarter. EcoR1 Capital LLC lifted its stake in Eton Pharmaceuticals by 7.0% during the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock valued at $53,603,000 after acquiring an additional 141,394 shares in the last quarter. Aristides Capital LLC lifted its stake in Eton Pharmaceuticals by 15.2% during the 1st quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock valued at $4,591,000 after acquiring an additional 24,605 shares in the last quarter. Bank of Nova Scotia bought a new position in shares of Eton Pharmaceuticals during the first quarter valued at about $365,000. Finally, Sei Investments Co. bought a new position in shares of Eton Pharmaceuticals during the first quarter valued at about $1,432,000. 27.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ETON has been the topic of a number of recent research reports. Wall Street Zen upgraded Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday. Craig Hallum increased their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, March 20th. B. Riley Financial raised their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Zacks Research lowered shares of Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 17th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.00.

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.