Eton Pharmaceuticals (NASDAQ:ETON) Stock Gets Price Target Increase from B. Riley Financial

Key Points

• B. Riley raised its price target on Eton Pharmaceuticals to $81 from $70 and maintained a Buy rating, implying about 20.8% upside from the share price at the time of the report.
• Analyst sentiment was broadly positive: the stock had an average rating of Buy and an average price target of $79.75. Shares rose to $67.07 on Tuesday, near their 52-week high of $67.57.
• Eton reported quarterly EPS of $0.50, beating the $0.31 consensus, and revenue of $57.93 million versus expectations of $41.98 million. Company insiders sold a combined 79,166 shares over the prior three months.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) had its price target raised by stock analysts at B. Riley Financial from $70.00 to $81.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's price target would suggest a potential upside of 20.77% from the stock's current price.

Several other brokerages also recently issued reports on ETON. Canaccord Genuity Group lifted their price objective on Eton Pharmaceuticals from $68.00 to $80.00 and gave the company a "buy" rating in a research report on Friday. 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. Craig Hallum restated a "buy" rating and issued a $78.00 price objective on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Zacks Research raised shares of Eton Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 12th. Finally, HC Wainwright upped their target price on shares of Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $79.75.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ:ETON traded up $2.72 during trading on Tuesday, hitting $67.07. 488,222 shares of the stock were exchanged, compared to its average volume of 453,999. Eton Pharmaceuticals has a 1-year low of $14.27 and a 1-year high of $67.57. 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 company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 44.13 and a beta of 0.89. The company's fifty day simple moving average is $54.89 and its 200-day simple moving average is $36.71.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.19. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. The company had revenue of $57.93 million for the quarter, compared to the consensus estimate of $41.98 million. Sell-side analysts expect that Eton Pharmaceuticals will post 1.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction on 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 sale, the director directly owned 59,745 shares of the company's stock, valued at $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 is available at this link. Also, insider David Krempa sold 25,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 37,025 shares of the company's stock, valued at $2,409,216.75. This represents a 40.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is currently owned by company insiders.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Eton Pharmaceuticals in the 2nd quarter valued at $68,629,000. Nantahala Capital Management LLC bought a new position in Eton Pharmaceuticals during the second quarter worth about $42,569,426. Pillsbury Lake Capital LLC acquired a new position in Eton Pharmaceuticals in the second quarter valued at about $14,015,083. Panoramic Capital LLC bought a new stake in shares of Eton Pharmaceuticals in the second quarter worth about $7,537,000. Finally, Cannell Capital LLC acquired a new stake in shares of Eton Pharmaceuticals during the second quarter worth about $6,181,041. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company's products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.

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