Eton Pharmaceuticals (NASDAQ:ETON) Shares Up 5.8% – Time to Buy?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price rose 5.8% on Thursday . The company traded as high as $20.06 and last traded at $20.1280. Approximately 195,300 shares were traded during trading, a decline of 27% from the average daily volume of 267,891 shares. The stock had previously closed at $19.02.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Eton Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Wall Street Zen downgraded Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. HC Wainwright boosted their price target on Eton Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Eton Pharmaceuticals in a report on Thursday, January 22nd. Finally, Craig Hallum raised their price objective on shares of Eton Pharmaceuticals from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eton Pharmaceuticals has a consensus rating of “Hold” and an average price target of $31.00.

Eton Pharmaceuticals Trading Up 8.3%

The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.25. The firm has a fifty day simple moving average of $16.50 and a 200-day simple moving average of $17.32. The firm has a market cap of $552.36 million, a P/E ratio of -82.04 and a beta of 1.19.

Institutional Trading of Eton Pharmaceuticals

Several hedge funds have recently bought and sold shares of ETON. Divisadero Street Capital Management LP bought a new stake in shares of Eton Pharmaceuticals during the second quarter worth about $7,092,000. Jefferies Financial Group Inc. bought a new position in Eton Pharmaceuticals in the 3rd quarter valued at about $1,922,000. Cannell Capital LLC boosted its stake in Eton Pharmaceuticals by 17.3% during the 3rd quarter. Cannell Capital LLC now owns 455,405 shares of the company’s stock valued at $9,896,000 after purchasing an additional 67,230 shares during the last quarter. Lumbard & Kellner LLC acquired a new position in Eton Pharmaceuticals during the 3rd quarter valued at about $3,831,000. Finally, Diametric Capital LP increased its holdings in Eton Pharmaceuticals by 333.0% during the 2nd quarter. Diametric Capital LP now owns 84,858 shares of the company’s stock worth $1,209,000 after purchasing an additional 65,261 shares in the last quarter. Institutional investors and hedge funds 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.