Eton Pharmaceuticals (NASDAQ:ETON) Stock Dropped to “Hold” by Zacks Research

Zacks Research lowered shares of Eton Pharmaceuticals (NASDAQ:ETON) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks reports.

ETON has been the topic of a number of other research reports. B. Riley Financial increased their target price on Eton Pharmaceuticals from $70.00 to $81.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright lifted their target price on Eton Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Canaccord Genuity Group boosted their price target on Eton Pharmaceuticals from $68.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 6th. Craig Hallum reissued a “buy” rating and set a $78.00 price target on shares of Eton Pharmaceuticals in a research report on Thursday, October 15th. Finally, Weiss Ratings upgraded Eton Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.75.

Eton Pharmaceuticals Stock Performance

Shares of Eton Pharmaceuticals stock opened at $68.40 on Tuesday. The firm has a market cap of $1.97 billion, a PE ratio of 45.30 and a beta of 0.89. The firm’s 50-day simple moving average is $55.19 and its 200-day simple moving average is $37.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.58 and a current ratio of 1.79. Eton Pharmaceuticals has a 1 year low of $14.27 and a 1 year high of $70.64.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.31 by $0.19. The business had revenue of $57.93 million for the quarter, compared to analysts’ expectations of $41.98 million. Eton Pharmaceuticals had a net margin of 35.35% and a return on equity of 104.82%. Equities analysts forecast that Eton Pharmaceuticals will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In other Eton Pharmaceuticals news, insider David Krempa sold 4,166 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $55.07, for a total value of $229,421.62. Following the transaction, the insider owned 43,381 shares of the company’s stock, valued at $2,388,991.67. This trade represents a 8.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul V. Maier sold 50,000 shares of Eton Pharmaceuticals stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $59.07, for a total value of $2,953,500.00. Following the completion of the transaction, the director owned 59,745 shares of the company’s stock, valued at approximately $3,529,137.15. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 79,166 shares of company stock worth $4,809,672. 16.49% of the stock is owned by company insiders.

Institutional Trading of Eton Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ETON. Toth Financial Advisory Corp lifted its holdings in shares of Eton Pharmaceuticals by 41.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 1,700 shares of the company’s stock worth $88,000 after purchasing an additional 500 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth about $26,000. Global Retirement Partners LLC acquired a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth about $26,000. Morse Asset Management Inc bought a new stake in Eton Pharmaceuticals in the 3rd quarter valued at about $35,000. Finally, Sterling Capital Management LLC lifted its position in Eton Pharmaceuticals by 845.7% in the 3rd quarter. Sterling Capital Management LLC now owns 889 shares of the company’s stock valued at $46,000 after purchasing an additional 795 shares during the last quarter. 27.86% of the stock is currently owned by institutional investors and hedge funds.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals is a specialty pharmaceutical company focused on developing and commercializing treatments for rare diseases and other conditions with limited treatment options. Its work includes bringing new medicines and reformulated or otherwise specialized drug products to market. The company’s products include Alkindi Sprinkle, a hydrocortisone granule formulation used to treat adrenal insufficiency, and Eprontia, an oral solution of topiramate used to treat certain seizure disorders and prevent migraines.