Jennifer Mckie Adams Sells 50,000 Shares of Eton Pharmaceuticals (NASDAQ:ETON) Stock

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Director Jennifer Mckie Adams sold 50,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $32.48, for a total value of $1,624,000.00. Following the sale, the director directly owned 50,000 shares in the company, valued at $1,624,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ ETON opened at $32.48 on Friday. The business has a fifty day simple moving average of $28.95 and a 200 day simple moving average of $21.59. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $889.63 million, a price-to-earnings ratio of -463.93 and a beta of 0.87. Eton Pharmaceuticals, Inc. has a one year low of $13.09 and a one year high of $35.66.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $22.31 million. Sell-side analysts expect that Eton Pharmaceuticals, Inc. will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in Eton Pharmaceuticals by 37.8% during the 1st quarter. Bank of America Corp DE now owns 144,367 shares of the company’s stock valued at $3,563,000 after purchasing an additional 39,571 shares during the last quarter. EcoR1 Capital LLC grew its stake in Eton Pharmaceuticals by 7.0% during the first quarter. EcoR1 Capital LLC now owns 2,171,938 shares of the company’s stock worth $53,603,000 after buying an additional 141,394 shares during the last quarter. Aristides Capital LLC increased its holdings in shares of Eton Pharmaceuticals by 15.2% during the first quarter. Aristides Capital LLC now owns 186,041 shares of the company’s stock worth $4,591,000 after buying an additional 24,605 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Eton Pharmaceuticals during the first quarter worth approximately $365,000. Finally, Sei Investments Co. bought a new position in shares of Eton Pharmaceuticals in the first quarter valued at approximately $1,432,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ETON shares. B. Riley Financial raised their price target on shares of Eton Pharmaceuticals from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. HC Wainwright upped their price objective on Eton Pharmaceuticals from $52.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wall Street Zen raised Eton Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Craig Hallum raised their target price on Eton Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Zacks Research lowered Eton Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.00.

About Eton Pharmaceuticals

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.