Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 12-Month High - Time to Buy?

Key Points

• 52-week high: Eton hit a new 52-week high of $29.80 (last $28.90) on heavy volume and is trading well above its 50-day ($21.94) and 200-day ($18.48) moving averages, reflecting a recent rally.
• Analyst mix: Several firms upgraded price targets and ratings (HC Wainwright to $52 buy, B. Riley to $31 buy, Wall Street Zen to buy) but the MarketBeat consensus remains a "Hold" with a $39.33 target.
• Fundamentals caution: The company missed quarterly EPS estimates ($0.05 vs. $0.12), reports negative net margin (-5.75%) and ROE, and trades with a negative P/E despite a slight revenue beat of $21.28 million and a market cap of about $790.7 million.

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $29.80 and last traded at $28.90, with a volume of 966326 shares trading hands. The stock had previously closed at $24.12.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HC Wainwright upped their price target on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eton Pharmaceuticals in a research report on Tuesday, April 21st. Zacks Research cut shares of Eton Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 17th. B. Riley Financial increased their price objective 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. Finally, Wall Street Zen upgraded shares of Eton Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Eton Pharmaceuticals has a consensus rating of "Hold" and a consensus target price of $39.33.

Eton Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.57 and a quick ratio of 1.17. The company's 50-day moving average price is $21.94 and its two-hundred day moving average price is $18.48. The company has a market capitalization of $790.70 million, a price-to-earnings ratio of -160.55 and a beta of 0.82.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings data on Thursday, March 19th. The company reported $0.05 earnings per share 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 firm had revenue of $21.28 million for the quarter, compared to analyst estimates of $20.58 million. On average, equities research analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Eton Pharmaceuticals

Large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in Eton Pharmaceuticals in the third quarter worth $30,000. Quarry LP acquired a new stake in Eton Pharmaceuticals in the third quarter worth $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in Eton Pharmaceuticals in the fourth quarter worth $44,000. Legal & General Group Plc acquired a new stake in Eton Pharmaceuticals in the second quarter worth $41,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Eton Pharmaceuticals in the fourth quarter worth $74,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

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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