Eton Pharmaceuticals (NASDAQ:ETON) Trading 9.1% Higher - Here's Why

Key Points

• Eton Pharmaceuticals shares increased by 9.1%, reaching a trading price of $20.05, although the trading volume was down 6% compared to the average session volume.
• Equities analysts have mixed ratings for the stock, with Wall Street Zen downgrading it to a "hold," while HC Wainwright maintains a "buy" rating and increased the price target to $35.00.
• The company reported a quarterly revenue of $18.93 million, exceeding expectations, but also missed earnings estimates with an EPS of ($0.10).

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) shares traded up 9.1% during mid-day trading on Tuesday . The company traded as high as $19.98 and last traded at $20.05. 328,715 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 350,519 shares. The stock had previously closed at $18.37.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Eton Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. HC Wainwright reaffirmed a "buy" rating and set a $35.00 price target (up previously from $33.00) on shares of Eton Pharmaceuticals in a report on Thursday, May 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $29.67.

Eton Pharmaceuticals Price Performance

The firm's fifty day moving average price is $16.41 and its 200 day moving average price is $15.72. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 1.14. The stock has a market cap of $531.84 million, a PE ratio of -123.94 and a beta of 1.10.

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

Insiders Place Their Bets

In related news, CFO James R. Gruber sold 2,631 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $16.02, for a total value of $42,148.62. Following the sale, the chief financial officer owned 204,753 shares in the company, valued at approximately $3,280,143.06. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.89% of the company's stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Large investors have recently bought and sold shares of the business. Divisadero Street Capital Management LP bought a new position in Eton Pharmaceuticals during the second quarter valued at $7,092,000. Geode Capital Management LLC increased its position in Eton Pharmaceuticals by 98.8% during the second quarter. Geode Capital Management LLC now owns 592,865 shares of the company's stock valued at $8,450,000 after acquiring an additional 294,617 shares during the last quarter. Soleus Capital Management L.P. bought a new position in Eton Pharmaceuticals during the second quarter valued at $4,061,000. Millennium Management LLC increased its position in Eton Pharmaceuticals by 156.3% during the first quarter. Millennium Management LLC now owns 355,929 shares of the company's stock valued at $4,620,000 after acquiring an additional 217,042 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Eton Pharmaceuticals by 61.9% during the first quarter. Acadian Asset Management LLC now owns 402,428 shares of the company's stock valued at $5,219,000 after acquiring an additional 153,923 shares during the last quarter. Institutional investors own 27.86% of the company's stock.

About Eton Pharmaceuticals

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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