Eton Pharmaceuticals (NASDAQ:ETON) Stock Rating Reaffirmed as Buy by HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $70.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 32.38% from the stock’s previous close.

Several other brokerages have also recently issued reports on ETON. Craig Hallum lifted their price target on Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Canaccord Genuity Group lifted their price objective on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Zacks Research raised shares of Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, B. Riley Financial reissued a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $67.50.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ:ETON traded down $0.45 during trading on Wednesday, reaching $52.88. The company had a trading volume of 442,488 shares, compared to its average volume of 449,990. The firm’s fifty day moving average is $56.13 and its 200 day moving average is $40.69. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The firm has a market capitalization of $1.51 billion, a PE ratio of 139.16 and a beta of 0.90. Eton Pharmaceuticals has a twelve month low of $14.27 and a twelve month high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.24. The business had revenue of $37.59 million for the quarter, compared to analyst estimates of $27.11 million. Eton Pharmaceuticals had a net margin of 12.02% and a return on equity of 40.13%. On average, equities analysts forecast that Eton Pharmaceuticals will post 1.13 EPS for the current year.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on Friday, August 28th. The shares were sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the completion of the sale, the director owned 59,745 shares of the company’s stock, valued at $3,529,137.15. This trade represents a 45.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David Krempa sold 4,166 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $55.07, for a total transaction of $229,421.62. Following the transaction, the insider owned 43,381 shares in the company, valued at approximately $2,388,991.67. This represents a 8.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,166 shares of company stock valued at $4,809,672 in the last 90 days. Corporate insiders own 16.49% of the company’s stock.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Toth Financial Advisory Corp raised its stake in shares of Eton Pharmaceuticals by 41.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 1,700 shares of the company’s stock worth $88,000 after purchasing an additional 500 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $2,156,000. HighTower Advisors LLC grew its stake in shares of Eton Pharmaceuticals by 187.2% in the 2nd quarter. HighTower Advisors LLC now owns 52,907 shares of the company’s stock valued at $1,915,000 after buying an additional 34,484 shares in the last quarter. Sigma Planning Corp acquired a new position in Eton Pharmaceuticals in the second quarter worth approximately $1,086,000. Finally, Navellier & Associates Inc. acquired a new position in Eton Pharmaceuticals in the second quarter worth approximately $652,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, acquiring, and commercializing treatments for rare diseases and other underserved patient populations. The company’s strategy includes advancing proprietary product candidates and obtaining rights to established medicines that can address unmet medical needs.

Eton’s portfolio has included products such as Eprontia (topiramate) oral solution for certain seizure disorders and migraine prevention, Biorphen (phenylephrine hydrochloride) injection for the treatment of clinically important hypotension, and specialty medicines used in the management of rare metabolic and endocrine conditions.