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

Key Points

• Shares hit a new 52-week high of $27.24, and several analysts have upgraded Eton and raised price targets, leaving a MarketBeat consensus rating of "Moderate Buy" with a consensus target of $39.33.
• Quarterly results showed $0.05 EPS (missed estimates by $0.07) while revenue of $21.28M slightly beat expectations; the company remains unprofitable with a negative PE and negative net margin.
• Institutional buying has increased—multiple funds added or raised stakes (e.g., Millennium, Soleus), and about 27.9% of shares are held by institutions, indicating growing investor interest despite mixed fundamentals.

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $27.24 and last traded at $27.10, with a volume of 5826 shares trading hands. The stock had previously closed at $27.12.

Analyst Upgrades and Downgrades

ETON has been the topic of a number of research reports. Zacks Research upgraded Eton Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 19th. Craig Hallum raised their price objective on Eton Pharmaceuticals from $30.00 to $35.00 and gave the company a "buy" rating in a report on Friday, March 20th. Wall Street Zen upgraded Eton Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. HC Wainwright raised their price objective on Eton Pharmaceuticals from $37.00 to $52.00 and gave the company a "buy" rating in a report on Friday, March 20th. Finally, B. Riley Financial raised their price objective on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a "buy" rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.33.

Eton Pharmaceuticals Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average price of $20.00 and a 200 day moving average price of $18.15. The firm has a market cap of $740.62 million, a PE ratio of -150.57 and a beta of 0.97.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $20.58 million. As a group, equities research analysts expect that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ETON. Soleus Capital Management L.P. acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth about $4,061,000. Millennium Management LLC increased its position 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 worth $4,620,000 after purchasing an additional 217,042 shares during the last quarter. Oberweis Asset Management Inc. acquired a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth about $4,180,000. Lumbard & Kellner LLC acquired a new stake in shares of Eton Pharmaceuticals during the 3rd quarter worth about $3,831,000. Finally, BNP Paribas Financial Markets increased its position in shares of Eton Pharmaceuticals by 162.0% during the 3rd 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 during the last quarter. 27.86% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.