Eton Pharmaceuticals (NASDAQ:ETON) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. B. Riley Financial raised their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Craig Hallum raised their target price on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, HC Wainwright lifted their price target on shares of Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.00.

Eton Pharmaceuticals Trading Up 0.5%

NASDAQ:ETON opened at $37.51 on Monday. Eton Pharmaceuticals has a one year low of $13.76 and a one year high of $38.62. The business has a fifty day moving average price of $32.85 and a 200-day moving average price of $24.10. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -535.78 and a beta of 0.86. 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 (NASDAQ:ETON) last released its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative net margin of 1.70% and a negative return on equity of 5.68%. The company had revenue of $24.27 million for the quarter, compared to analysts’ expectations of $22.31 million. Sell-side analysts forecast that Eton Pharmaceuticals will post 0.75 EPS for the current year.

Insiders Place Their Bets

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.47, for a total value of $619,298.13. Following the sale, the insider owned 25,249 shares in the company, valued at $794,586.03. The trade was a 43.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $32.48, for a total value of $1,624,000.00. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately $1,624,000. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 150,000 shares of company stock worth $4,853,921. 16.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ETON. Deutsche Bank AG lifted its holdings in shares of Eton Pharmaceuticals by 4.9% in the 4th quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock worth $309,000 after acquiring an additional 850 shares during the last quarter. Intech Investment Management LLC grew its holdings in Eton Pharmaceuticals by 11.1% during the 4th quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock valued at $210,000 after purchasing an additional 1,244 shares during the last quarter. State of Wyoming grew its holdings in Eton Pharmaceuticals by 16.4% during the 1st quarter. State of Wyoming now owns 9,498 shares of the company’s stock valued at $234,000 after purchasing an additional 1,337 shares during the last quarter. Man Group plc raised its position in Eton Pharmaceuticals by 6.0% in the 2nd quarter. Man Group plc now owns 23,754 shares of the company’s stock worth $338,000 after purchasing an additional 1,350 shares during the period. Finally, Quarry LP purchased a new stake in Eton Pharmaceuticals in the 3rd quarter worth about $37,000. 27.86% of the stock is currently owned by institutional investors.

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.