Brokerages Set Eton Pharmaceuticals, Inc. (NASDAQ:ETON) Price Target at $29.67

Shares of Eton Pharmaceuticals, Inc. (NASDAQ:ETON) have received an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $29.6667.

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eton Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st.

Eton Pharmaceuticals Price Performance

NASDAQ:ETON opened at $15.14 on Friday. The company has a market cap of $406.05 million, a P/E ratio of -60.56 and a beta of 1.18. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.25 and a current ratio of 1.63. The stock’s 50-day simple moving average is $16.37 and its 200 day simple moving average is $17.03. Eton Pharmaceuticals has a 52-week low of $11.09 and a 52-week high of $23.00.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.20). The company had revenue of $22.46 million for the quarter, compared to the consensus estimate of $20.47 million. Eton Pharmaceuticals had a negative return on equity of 11.32% and a negative net margin of 9.50%. As a group, sell-side analysts forecast that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ETON. Opaleye Management Inc. increased its position in shares of Eton Pharmaceuticals by 0.3% during the second quarter. Opaleye Management Inc. now owns 2,860,000 shares of the company’s stock valued at $40,755,000 after acquiring an additional 7,930 shares during the last quarter. EcoR1 Capital LLC grew its stake in Eton Pharmaceuticals by 2.0% in the 2nd quarter. EcoR1 Capital LLC now owns 2,030,544 shares of the company’s stock valued at $28,935,000 after purchasing an additional 40,756 shares during the period. Vanguard Group Inc. grew its stake in Eton Pharmaceuticals by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,344,115 shares of the company’s stock valued at $29,208,000 after purchasing an additional 31,942 shares during the period. Geode Capital Management LLC increased its position in shares of Eton Pharmaceuticals by 98.8% during the 2nd quarter. Geode Capital Management LLC now owns 592,865 shares of the company’s stock valued at $8,450,000 after purchasing an additional 294,617 shares during the last quarter. Finally, Divisadero Street Capital Management LP bought a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth $7,092,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

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.