Eton Pharmaceuticals (NASDAQ:ETON) Shares Gap Up – Here’s What Happened

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) gapped up prior to trading on Friday . The stock had previously closed at $27.61, but opened at $29.03. Eton Pharmaceuticals shares last traded at $28.6190, with a volume of 16,942 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on ETON. Wall Street Zen raised Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Zacks Research lowered Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Tuesday, April 21st. B. Riley Financial lifted their price target on Eton Pharmaceuticals from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, HC Wainwright lifted their price target on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.00.

Eton Pharmaceuticals Price Performance

The stock has a market capitalization of $807.11 million, a PE ratio of -419.94 and a beta of 0.87. The stock’s 50 day moving average is $27.54 and its two-hundred day moving average is $20.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.88 and a current ratio of 1.21.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). Eton Pharmaceuticals had a negative return on equity of 5.68% and a negative net margin of 1.70%.The firm had revenue of $24.27 million for the quarter, compared to analysts’ expectations of $22.31 million. On average, equities analysts anticipate that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Eton Pharmaceuticals news, insider David Krempa sold 19,679 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.47, for a total transaction of $619,298.13. Following the completion of the sale, the insider directly owned 25,249 shares in the company, valued at approximately $794,586.03. The trade was a 43.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 100,000 shares of company stock worth $3,229,921. 16.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Deutsche Bank AG increased its stake in Eton Pharmaceuticals by 4.9% during the 4th quarter. Deutsche Bank AG now owns 18,249 shares of the company’s stock worth $309,000 after buying an additional 850 shares in the last quarter. Intech Investment Management LLC increased its stake in Eton Pharmaceuticals by 11.1% during the 4th quarter. Intech Investment Management LLC now owns 12,421 shares of the company’s stock worth $210,000 after buying an additional 1,244 shares in the last quarter. State of Wyoming increased its stake in Eton Pharmaceuticals by 16.4% during the 1st quarter. State of Wyoming now owns 9,498 shares of the company’s stock worth $234,000 after buying an additional 1,337 shares in the last quarter. Man Group plc increased its stake in Eton Pharmaceuticals by 6.0% during the 2nd quarter. Man Group plc now owns 23,754 shares of the company’s stock worth $338,000 after buying an additional 1,350 shares in the last quarter. Finally, Quarry LP purchased a new stake in Eton Pharmaceuticals during the 3rd quarter worth approximately $37,000. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

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.