Eton Pharmaceuticals (NASDAQ:ETON) Given Buy Rating at HC Wainwright

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $70.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 39.14% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Zacks Research upgraded Eton Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings raised shares of Eton Pharmaceuticals from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. B. Riley Financial reaffirmed a “buy” rating and set a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, Craig Hallum boosted their price target on shares of Eton Pharmaceuticals from $40.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $71.50.

Eton Pharmaceuticals Stock Down 2.0%

Eton Pharmaceuticals stock traded down $1.02 during midday trading on Wednesday, hitting $50.31. 469,023 shares of the stock were exchanged, compared to its average volume of 450,307. Eton Pharmaceuticals has a 52-week low of $14.27 and a 52-week high of $66.37. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $56.38 and its 200-day moving average price is $41.10. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 132.39 and a beta of 0.90.

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

Insider Activity

In other news, Director Paul V. Maier sold 50,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Krempa sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $65.07, for a total transaction of $1,626,750.00. Following the completion of the sale, the insider directly owned 37,025 shares in the company, valued at $2,409,216.75. This represents a 40.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 79,166 shares of company stock valued at $4,809,672 in the last three months. 16.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Eton Pharmaceuticals during the 2nd quarter valued at $68,629,000. Nantahala Capital Management LLC bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth $42,569,426. Pillsbury Lake Capital LLC purchased a new position in Eton Pharmaceuticals in the second quarter worth $14,015,083. Panoramic Capital LLC purchased a new position in Eton Pharmaceuticals in the second quarter worth $7,537,000. Finally, Cannell Capital LLC bought a new position in Eton Pharmaceuticals in the second quarter valued at $6,181,041. Institutional investors 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.