Eton Pharmaceuticals (NASDAQ:ETON) Sets New 52-Week High on Analyst Upgrade

Key Points

• Eton Pharmaceuticals reached a new 52-week high of $21.88 after being upgraded from a hold to a buy rating by Wall Street Zen.
• HC Wainwright also raised its price target for Eton's stock from $33.00 to $35.00, contributing to positive analyst sentiment.
• Recently, several large institutional investors have significantly increased their positions in Eton Pharmaceuticals, indicating strong interest in the stock.

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) hit a new 52-week high during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $21.88 and last traded at $21.96, with a volume of 38837 shares. The stock had previously closed at $21.27.

Separately, HC Wainwright restated a "buy" rating and set a $35.00 price target (up from $33.00) on shares of Eton Pharmaceuticals in a report on Thursday, May 29th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $29.67.

Insider Activity

In other Eton Pharmaceuticals news, CFO James R. Gruber sold 2,631 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $16.02, for a total transaction of $42,148.62. Following the completion of the sale, the chief financial officer directly owned 204,753 shares in the company, valued at $3,280,143.06. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ETON. Bank of America Corp DE lifted its holdings in Eton Pharmaceuticals by 5,422.4% in the 4th quarter. Bank of America Corp DE now owns 11,100 shares of the company's stock worth $148,000 after purchasing an additional 10,899 shares in the last quarter. Millennium Management LLC purchased a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $1,850,000. Two Sigma Investments LP purchased a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $1,498,000. Two Sigma Advisers LP purchased a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $662,000. Finally, Jefferies Financial Group Inc. purchased a new position in Eton Pharmaceuticals in the 4th quarter worth approximately $133,000. 27.86% of the stock is owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Trading Up 3.5%

The stock has a fifty day moving average of $16.89 and a 200 day moving average of $15.89. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.16 and a current ratio of 1.77. The company has a market capitalization of $590.17 million, a PE ratio of -137.28 and a beta of 1.10.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.09). The firm had revenue of $18.93 million for the quarter, compared to analysts' expectations of $16.71 million. Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%. As a group, sell-side analysts predict that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.

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