Eton Pharmaceuticals (NASDAQ:ETON) Hits New 1-Year High - Time to Buy?

Key Points

• Eton Pharmaceuticals hit a new 52-week high, trading as high as $26.20 and last at $25.18 on Wednesday, with roughly 6,358 shares changing hands and a market cap of about $685.7 million.
• Several analysts have raised price targets and ratings (HC Wainwright to $52, B. Riley to $31, Craig Hallum to $35), producing a MarketBeat consensus of Moderate Buy and an average price target of $39.33, though Weiss Ratings still rates the stock a sell.
• Quarterly results showed an EPS of $0.05 versus $0.12 expected (a miss), revenue of $21.28 million slightly above estimates, and continued negative net margin and return on equity.

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $26.20 and last traded at $25.1820, with a volume of 6358 shares changing hands. The stock had previously closed at $25.06.

Analyst Ratings Changes

A number of research analysts have weighed in on ETON shares. HC Wainwright increased their target price on Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a "buy" rating in a report on Friday, March 20th. Wall Street Zen raised Eton Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research note on Thursday, January 22nd. B. Riley Financial raised their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Finally, Craig Hallum raised their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Eton Pharmaceuticals Price Performance

The firm has a 50 day moving average price of $18.85 and a 200 day moving average price of $17.92. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.83. The stock has a market cap of $685.65 million, a P/E ratio of -140.52 and a beta of 0.97.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). Eton Pharmaceuticals had a negative return on equity of 2.60% and a negative net margin of 5.75%.The company had revenue of $21.28 million during the quarter, compared to the consensus estimate of $20.58 million. On average, analysts forecast that Eton Pharmaceuticals, Inc. will post -0.14 EPS for the current fiscal year.

Institutional Trading of Eton Pharmaceuticals

Several institutional investors have recently made changes to their positions in ETON. Soleus Capital Management L.P. purchased a new stake in shares of Eton Pharmaceuticals during the second quarter worth about $4,061,000. Millennium Management LLC grew its position in shares of Eton Pharmaceuticals by 156.3% during the first quarter. Millennium Management LLC now owns 355,929 shares of the company's stock worth $4,620,000 after purchasing an additional 217,042 shares in the last quarter. Oberweis Asset Management Inc. purchased a new stake in shares of Eton Pharmaceuticals during the third quarter worth about $4,180,000. Lumbard & Kellner LLC purchased a new stake in shares of Eton Pharmaceuticals during the third quarter worth about $3,831,000. Finally, BNP Paribas Financial Markets grew its position in shares of Eton Pharmaceuticals by 162.0% during the third quarter. BNP Paribas Financial Markets now owns 229,790 shares of the company's stock worth $4,993,000 after purchasing an additional 142,094 shares in the last quarter. Hedge funds and other institutional investors own 27.86% of the company's stock.

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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