Eton Pharmaceuticals (NASDAQ:ETON) Trading 13.3% Higher - What's Next?

Key Points

• Shares jumped 13.3% to about $27.32 on Friday, though trading volume was light at 121,202 shares (down ~63% from the average session volume).
• Analysts are mixed: several firms raised price targets (HC Wainwright to $52, Craig Hallum to $35, B. Riley to $31) while others downgraded or maintained sells, leaving an average rating of "Hold" and an average target price of $39.33.
• Quarterly results showed a miss on EPS ($0.05 vs. $0.12 estimate) but a slight revenue beat ($21.28M), with the company still reporting a negative net margin and negative return on equity.

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) traded up 13.3% on Friday . The stock traded as high as $27.13 and last traded at $27.3190. 121,202 shares traded hands during trading, a decline of 63% from the average session volume of 328,250 shares. The stock had previously closed at $24.12.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research lowered shares of Eton Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, April 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Eton Pharmaceuticals in a report on Tuesday, April 21st. HC Wainwright raised their price objective on shares of Eton Pharmaceuticals from $37.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Finally, B. Riley Financial raised their price objective on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $39.33.

Eton Pharmaceuticals Price Performance

The company's fifty day moving average price is $21.94 and its 200 day moving average price is $18.48. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.57. The firm has a market capitalization of $773.06 million, a price-to-earnings ratio of -156.97 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 net margin of 5.75% and a negative return on equity of 2.60%. The business had revenue of $21.28 million during the quarter, compared to analyst estimates of $20.58 million. Equities research analysts expect that Eton Pharmaceuticals, Inc. will post 0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Opaleye Management Inc. boosted its holdings in shares of Eton Pharmaceuticals by 0.3% in the 2nd quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company's stock valued at $40,755,000 after buying an additional 7,930 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Eton Pharmaceuticals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company's stock valued at $29,208,000 after buying an additional 31,942 shares during the period. State Street Corp lifted its position in Eton Pharmaceuticals by 14.5% in the 4th quarter. State Street Corp now owns 501,925 shares of the company's stock valued at $8,488,000 after purchasing an additional 63,480 shares during the last quarter. Cannell Capital LLC lifted its position in Eton Pharmaceuticals by 17.3% in the 3rd quarter. Cannell Capital LLC now owns 455,405 shares of the company's stock valued at $9,896,000 after purchasing an additional 67,230 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Eton Pharmaceuticals by 156.3% in the 1st quarter. Millennium Management LLC now owns 355,929 shares of the company's stock valued at $4,620,000 after purchasing an additional 217,042 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.

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