Eton Pharmaceuticals (NASDAQ:ETON) Lowered to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Eton Pharmaceuticals from a "buy" to a "hold" rating in a recent research note.
• Despite the downgrade, other brokerages like B. Riley and HC Wainwright have maintained "buy" ratings with price targets ranging from $26.00 to $35.00.
• Eton Pharmaceuticals reported a quarterly loss of ($0.10) EPS, missing analysts' expectations but exceeding revenue forecasts with $18.93 million.

Wall Street Zen cut shares of Eton Pharmaceuticals (NASDAQ:ETON - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

ETON has been the topic of several other research reports. HC Wainwright reissued a "buy" rating and set a $35.00 price target (up previously from $33.00) on shares of Eton Pharmaceuticals in a research report on Thursday, May 29th. B. Riley restated a "buy" rating and set a $26.00 target price (up from $24.00) on shares of Eton Pharmaceuticals in a research note on Friday, May 16th. Finally, Craig Hallum upped their price target on Eton Pharmaceuticals from $26.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, May 14th.

Eton Pharmaceuticals Price Performance

Shares of NASDAQ ETON traded up $0.24 during trading on Friday, hitting $17.29. The company had a trading volume of 206,881 shares, compared to its average volume of 368,815. The stock has a fifty day simple moving average of $14.84 and a two-hundred day simple moving average of $15.46. 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 firm has a market capitalization of $463.77 million, a price-to-earnings ratio of -107.69 and a beta of 1.13. Eton Pharmaceuticals has a fifty-two week low of $3.66 and a fifty-two week high of $21.48.

Eton Pharmaceuticals (NASDAQ:ETON - Get Free Report) last released 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 analyst estimates of $16.71 million. Eton Pharmaceuticals had a negative return on equity of 0.73% and a negative net margin of 7.10%. On average, research analysts expect that Eton Pharmaceuticals will post -0.14 earnings per share for the current year.

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 10,223 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $14.73, for a total transaction of $150,584.79. Following the completion of the sale, the insider directly owned 612,646 shares in the company, valued at $9,024,275.58. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 34,000 shares of company stock worth $504,318 in the last 90 days. 14.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ETON. Nantahala Capital Management LLC grew its position in shares of Eton Pharmaceuticals by 5.1% in the 1st quarter. Nantahala Capital Management LLC now owns 1,175,951 shares of the company's stock worth $15,264,000 after acquiring an additional 57,468 shares in the last quarter. Geode Capital Management LLC increased its position in Eton Pharmaceuticals by 98.8% in the 2nd 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 period. Mink Brook Asset Management LLC acquired a new stake in Eton Pharmaceuticals in the 4th quarter valued at approximately $6,071,000. Acadian Asset Management LLC increased its position in Eton Pharmaceuticals by 61.9% in the 1st 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 period. Finally, Millennium Management LLC lifted its position in shares of Eton Pharmaceuticals by 156.3% during the 1st 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. Institutional investors and hedge funds 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.