Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Eton Pharmaceuticals has a consensus analyst rating of “Hold” from five covering firms, with an average 1-year price target of $41.00.
• The company missed earnings estimates in its latest quarter, reporting $0.05 EPS versus the expected $0.10, though revenue of $24.27 million came in above forecasts.
• Shares fell 1.9% to $36.61, while recent filings show insider selling and continued buying interest from institutional investors such as Millennium Management, Goldman Sachs, and JPMorgan.

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) has earned an average recommendation of "Hold" from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $41.00.

ETON has been the subject of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. B. Riley Financial increased their target price on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Zacks Research cut Eton Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 17th. Wall Street Zen raised shares of Eton Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 13th. Finally, Craig Hallum upped their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, March 20th.

Eton Pharmaceuticals Stock Down 1.9%

Shares of NASDAQ:ETON traded down $0.72 during midday trading on Friday, hitting $36.61. 250,795 shares of the company's stock were exchanged, compared to its average volume of 394,105. 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 has a 12 month low of $13.76 and a 12 month high of $38.62. The company has a market cap of $1.00 billion, a PE ratio of -522.93 and a beta of 0.86. The stock has a 50 day moving average price of $32.44 and a 200-day moving average price of $23.75.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $22.31 million. Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%. On average, sell-side analysts anticipate that Eton Pharmaceuticals will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Eton Pharmaceuticals

In related news, insider David Krempa sold 19,679 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction of $619,298.13. Following the completion of the sale, the insider directly owned 25,249 shares in the company, valued at $794,586.03. This represents a 43.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jennifer Mckie Adams sold 50,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,624,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 150,000 shares of company stock valued at $4,853,921 over the last three months. 16.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in shares of Eton Pharmaceuticals by 156.3% during the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company's stock valued at $4,620,000 after buying an additional 217,042 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Eton Pharmaceuticals by 34.9% in the first quarter. Goldman Sachs Group Inc. now owns 175,220 shares of the company's stock worth $2,274,000 after acquiring an additional 45,341 shares during the period. Jane Street Group LLC grew its holdings in Eton Pharmaceuticals by 49.1% during the 1st quarter. Jane Street Group LLC now owns 95,919 shares of the company's stock valued at $1,245,000 after buying an additional 31,596 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Eton Pharmaceuticals by 114.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 242,580 shares of the company's stock valued at $3,457,000 after acquiring an additional 129,467 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Eton Pharmaceuticals in the second quarter worth about $41,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Company Profile

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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