Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Stock Has Consensus Target Price of $71.50 According to Brokerages

Key Points

• Analysts maintain a bullish outlook: Six brokerages collectively rate Eton Pharmaceuticals a “Buy,” with an average 12-month price target of $71.50 versus the reported share price of $49.22.
• Quarterly results exceeded expectations: Eton reported earnings of $0.43 per share and revenue of $37.59 million, surpassing analyst estimates of $0.19 per share and $27.11 million, respectively.
• Shares have pulled back and insiders have sold: The stock was down 2.2%, while insiders sold 79,166 shares worth approximately $4.8 million over the preceding 90 days.

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $71.50.

A number of equities analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Eton Pharmaceuticals in a report on Wednesday, October 14th. Canaccord Genuity Group increased their price target on shares of Eton Pharmaceuticals from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. B. Riley Financial reiterated a "buy" rating and set a $70.00 price target (up from $40.00) on shares of Eton Pharmaceuticals in a research note on Friday, August 14th. Zacks Research raised shares of Eton Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. Finally, Craig Hallum reissued a "buy" rating and set a $78.00 price objective on shares of Eton Pharmaceuticals in a research report on Thursday.

Eton Pharmaceuticals Trading Down 2.2%

NASDAQ:ETON opened at $49.22 on Tuesday. The company has a market capitalization of $1.41 billion, a PE ratio of 129.53 and a beta of 0.90. Eton Pharmaceuticals has a 52-week low of $14.27 and a 52-week high of $66.37. The stock's 50 day moving average price is $56.60 and its 200 day moving average price is $41.46. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.41.

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 for the quarter, beating analysts' consensus estimates of $0.19 by $0.24. The company had revenue of $37.59 million during the quarter, compared to analysts' expectations of $27.11 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. On average, research analysts anticipate that Eton Pharmaceuticals will post 1.13 EPS for the current year.

Insider Transactions at Eton Pharmaceuticals

In other news, Director Paul V. Maier sold 50,000 shares of the 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 sale, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. This represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Krempa sold 4,166 shares of the firm's stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total value of $229,421.62. Following the transaction, the insider directly owned 43,381 shares in the company, valued at approximately $2,388,991.67. This represents a 8.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,166 shares of company stock valued at $4,809,672 over the last ninety days. Corporate insiders own 16.49% of the company's stock.

Hedge Funds Weigh In On Eton Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC purchased a new stake in Eton Pharmaceuticals during the 2nd quarter valued at approximately $1,531,000. Bank of New York Mellon Corp acquired a new stake in Eton Pharmaceuticals during the 2nd quarter worth approximately $4,281,000. Squarepoint Ops LLC purchased a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $2,156,000. Jefferies Financial Group Inc. purchased a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $1,232,000. Finally, Bank of Nova Scotia purchased a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at approximately $623,000. Institutional investors and hedge funds 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.

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