Eton Pharmaceuticals (NASDAQ:ETON) Reaches New 1-Year High - Here's What Happened

Key Points

• Eton Pharmaceuticals hit a new 52-week high, trading as high as $67.27, up from its prior close of $64.35.
• The company beat quarterly expectations, reporting EPS of $0.50 versus $0.31 forecast and revenue of $57.93 million versus $41.98 million expected.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and an average price target of $77, with recent targets reaching $80.

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) shares reached a new 52-week high during trading on Tuesday. The company traded as high as $67.27 and last traded at $65.9050, with a volume of 252,972 shares trading hands. The stock had previously closed at $64.35.

Wall Street Analysts Forecast Growth

ETON has been the topic of several recent analyst reports. Weiss Ratings upgraded Eton Pharmaceuticals from a "sell (d-)" rating to a "hold (c)" rating in a report on Tuesday, September 22nd. Craig Hallum restated a "buy" rating and issued a $78.00 price target on shares of Eton Pharmaceuticals in a report on Thursday, October 15th. Zacks Research raised Eton Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. B. Riley Financial reiterated a "buy" rating and set a $70.00 price objective (up from $40.00) on shares of Eton Pharmaceuticals in a report on Friday, August 14th. Finally, Canaccord Genuity Group lifted their price objective on Eton Pharmaceuticals from $68.00 to $80.00 and gave the company a "buy" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $77.00.

Eton Pharmaceuticals Stock Up 2.2%

The firm has a market capitalization of $1.88 billion, a P/E ratio of 43.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.52. The firm's 50-day moving average is $54.89 and its 200 day moving average is $36.71.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.19. The firm had revenue of $57.93 million during the quarter, compared to analysts' expectations of $41.98 million. Eton Pharmaceuticals had a return on equity of 40.13% and a net margin of 12.02%. As a group, equities research analysts predict that Eton Pharmaceuticals, Inc. will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Eton Pharmaceuticals news, Director Paul V. Maier sold 50,000 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $59.07, for a total transaction of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares of the company's stock, valued at $3,529,137.15. This represents a 45.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Krempa sold 4,166 shares of the firm's stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $55.07, for a total transaction of $229,421.62. Following the transaction, the insider directly owned 43,381 shares of the company's stock, valued at $2,388,991.67. This represents a 8.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ETON. Hsbc Holdings PLC acquired a new position in Eton Pharmaceuticals during the second quarter worth $1,531,000. Bank of New York Mellon Corp acquired a new stake in Eton Pharmaceuticals in the second quarter valued at $4,281,000. Squarepoint Ops LLC acquired a new stake in Eton Pharmaceuticals in the second quarter valued at $2,156,000. Jefferies Financial Group Inc. bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $1,232,000. Finally, Bank of Nova Scotia bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at about $623,000. Institutional investors and hedge funds own 27.86% of the company's stock.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company's products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.

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