Eton Pharmaceuticals (NASDAQ:ETON) Shares Up 5.4% - Here's Why

Key Points

• Eton Pharmaceuticals shares rose 5.4% in Friday trading, closing at $64.79, while trading volume was 49% below its average.
• Analysts lifted price targets, with Canaccord Genuity and HC Wainwright setting $80 targets and B. Riley setting $81. The stock has a “Moderate Buy” consensus rating and an average target of $79.75.
• Eton reported quarterly EPS of $0.50, topping the $0.31 estimate, and revenue of $57.93 million versus expectations of $41.98 million.

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Get Free Report) were up 5.4% during trading on Friday. The stock traded as high as $64.34 and last traded at $64.79. Approximately 235,189 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 461,895 shares. The stock had previously closed at $61.45.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Canaccord Genuity Group boosted their price target on Eton Pharmaceuticals from $68.00 to $80.00 and gave the company a "buy" rating in a report on Friday, November 6th. HC Wainwright raised their price objective on Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, November 6th. Craig Hallum reiterated a "buy" rating and issued a $78.00 target price on shares of Eton Pharmaceuticals in a research note on Thursday, October 15th. Zacks Research downgraded Eton Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, B. Riley Financial raised their price target on Eton Pharmaceuticals from $70.00 to $81.00 and gave the stock a "buy" rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Eton Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $79.75.

Eton Pharmaceuticals Stock Performance

The company has a quick ratio of 1.58, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.83 billion, a PE ratio of 42.04 and a beta of 0.89. The stock's 50 day simple moving average is $55.18 and its two-hundred day simple moving average is $37.47.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.19. The company had revenue of $57.93 million during the quarter, compared to analysts' expectations of $41.98 million. Eton Pharmaceuticals had a net margin of 35.35% and a return on equity of 104.82%. As a group, research analysts anticipate that Eton Pharmaceuticals, Inc. will post 1.54 earnings per share for the current year.

Insider Buying and Selling at Eton Pharmaceuticals

In other news, insider Ipek Erdogan-Trinkaus sold 3,500 shares of the firm's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $67.41, for a total value of $235,935.00. Following the transaction, the insider directly owned 4,081 shares in the company, valued at $275,100.21. This trade represents a 46.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul V. Maier sold 50,000 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares in the company, valued at approximately $3,529,137.15. This trade represents a 45.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 82,666 shares of company stock valued at $5,045,607. Company insiders own 16.49% of the company's stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC acquired a new stake in Eton Pharmaceuticals during the third quarter valued at approximately $264,000. Global Retirement Partners LLC bought a new position in Eton Pharmaceuticals during the 3rd quarter worth approximately $26,000. Morse Asset Management Inc acquired a new position in shares of Eton Pharmaceuticals in the 3rd quarter worth approximately $35,000. JW Asset Management LLC acquired a new position in shares of Eton Pharmaceuticals in the 3rd quarter worth approximately $690,000. Finally, Russell Investments Group Ltd. grew its position in shares of Eton Pharmaceuticals by 296.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,362 shares of the company's stock worth $1,666,000 after acquiring an additional 24,195 shares in the last quarter. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

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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