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

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

A number of other research firms have also recently weighed in on ETON. B. Riley Financial upped their target price on shares of Eton Pharmaceuticals from $70.00 to $81.00 and gave the company a "buy" rating in a research note on Tuesday. 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, November 6th. Canaccord Genuity Group lifted their target price on shares of Eton Pharmaceuticals from $68.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, November 6th. Weiss Ratings raised Eton Pharmaceuticals from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday. Finally, Craig Hallum reiterated a "buy" rating and set a $78.00 target price on shares of Eton Pharmaceuticals in a report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.75.

Eton Pharmaceuticals Trading Up 1.3%

Eton Pharmaceuticals stock opened at $68.40 on Tuesday. Eton Pharmaceuticals has a 52 week low of $14.27 and a 52 week high of $70.64. The firm has a market capitalization of $1.97 billion, a PE ratio of 45.30 and a beta of 0.89. The business's 50-day simple moving average is $55.19 and its 200-day simple moving average is $37.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.58 and a current ratio of 1.79.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.31 by $0.19. Eton Pharmaceuticals had a net margin of 35.35% and a return on equity of 104.82%. The firm had revenue of $57.93 million during the quarter, compared to analysts' expectations of $41.98 million. Equities research analysts forecast that Eton Pharmaceuticals will post 1.13 earnings per share for the current year.

Insider Activity at Eton Pharmaceuticals

In other news, insider David Krempa sold 4,166 shares of the business's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $55.07, for a total value of $229,421.62. Following the completion of the sale, the insider owned 43,381 shares of the company's stock, valued at approximately $2,388,991.67. The trade was a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul V. Maier sold 50,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 59,745 shares in the company, valued at $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,166 shares of company stock valued at $4,809,672 over the last 90 days. Company insiders own 16.49% of the company's stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ETON. EcoR1 Capital LLC lifted its position in shares of Eton Pharmaceuticals by 7.0% during the 1st quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company's stock valued at $53,603,000 after acquiring an additional 141,394 shares during the period. BlackRock Inc. bought a new position in shares of Eton Pharmaceuticals in the second quarter worth $68,629,000. Nantahala Capital Management LLC acquired a new position in Eton Pharmaceuticals in the second quarter valued at 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. Finally, Panoramic Capital LLC acquired a new position in Eton Pharmaceuticals in the second quarter valued at about $7,537,000. Institutional investors and hedge funds own 27.86% of the company's stock.

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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