Eton Pharmaceuticals (NASDAQ:ETON) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Eton Pharmaceuticals to “hold” from “strong sell.” Overall analyst sentiment remains “Moderate Buy,” with four Buy, one Hold and one Sell rating and an average price target of $67.50.
• Eton shares opened at $63.05, down 2.1%, after a strong quarterly performance. The company reported $0.43 in adjusted EPS versus a $0.19 estimate and revenue of $37.59 million versus the $27.11 million consensus.
• Insiders recently sold shares: Director Jennifer Mckie Adams sold 50,000 shares, while insider David Krempa sold 25,000 shares. Insiders own 16.49% of Eton, compared with 27.86% held by institutional investors.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on ETON. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research note on Friday, July 17th. Canaccord Genuity Group boosted their price target on Eton Pharmaceuticals from $60.00 to $68.00 and gave the company a "buy" rating in a report on Friday, August 14th. HC Wainwright upped their price objective on Eton Pharmaceuticals from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Wall Street Zen upgraded Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. Finally, B. Riley Financial restated a "buy" rating and issued a $70.00 target price (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Four equities 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 "Moderate Buy" and an average price target of $67.50.

Eton Pharmaceuticals Stock Down 2.1%

Shares of Eton Pharmaceuticals stock opened at $63.05 on Monday. The company has a market capitalization of $1.80 billion, a P/E ratio of 165.92 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.30. The business has a 50-day moving average of $43.42 and a two-hundred day moving average of $31.03. Eton Pharmaceuticals has a 1 year low of $14.27 and a 1 year high of $66.37.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.24. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%.The business had revenue of $37.59 million during the quarter, compared to analyst estimates of $27.11 million. As a group, equities analysts predict that Eton Pharmaceuticals will post 0.67 EPS for the current year.

Insider Activity

In related news, Director Jennifer Mckie Adams sold 50,000 shares of the company's stock in a transaction dated 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 sale, the director 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David Krempa sold 25,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $65.07, for a total value of $1,626,750.00. Following the transaction, the insider directly owned 37,025 shares of the company's stock, valued at $2,409,216.75. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG increased its position in Eton Pharmaceuticals by 4.9% during the fourth quarter. Deutsche Bank AG now owns 18,249 shares of the company's stock worth $309,000 after buying an additional 850 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $43,000. Intech Investment Management LLC increased its holdings in shares of Eton Pharmaceuticals by 11.1% during the 4th quarter. Intech Investment Management LLC now owns 12,421 shares of the company's stock worth $210,000 after acquiring an additional 1,244 shares during the last quarter. State of Wyoming raised its stake in Eton Pharmaceuticals by 16.4% in the 1st quarter. State of Wyoming now owns 9,498 shares of the company's stock valued at $234,000 after acquiring an additional 1,337 shares during the period. Finally, Man Group plc lifted its holdings in Eton Pharmaceuticals by 6.0% during the 2nd quarter. Man Group plc now owns 23,754 shares of the company's stock valued at $338,000 after purchasing an additional 1,350 shares during the last quarter. 27.86% of the stock is 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.

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