Eton Pharmaceuticals (NASDAQ:ETON) Hits New 1-Year High Following Analyst Upgrade

Eton Pharmaceuticals, Inc. (NASDAQ:ETON)’s share price reached a new 52-week high on Wednesday after Craig Hallum raised their price target on the stock from $26.00 to $28.00. Craig Hallum currently has a buy rating on the stock. Eton Pharmaceuticals traded as high as $21.00 and last traded at $19.62, with a volume of 58037 shares trading hands. The stock had previously closed at $17.07.

ETON has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Eton Pharmaceuticals in a research note on Wednesday, March 19th. B. Riley reiterated a “buy” rating and set a $24.00 price target (up previously from $21.00) on shares of Eton Pharmaceuticals in a research note on Wednesday, March 19th.

Institutional Trading of Eton Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ETON. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Eton Pharmaceuticals by 18.3% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,561 shares of the company’s stock worth $141,000 after buying an additional 1,634 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Eton Pharmaceuticals by 29.6% in the fourth quarter. XTX Topco Ltd now owns 14,655 shares of the company’s stock worth $195,000 after buying an additional 3,351 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Eton Pharmaceuticals in the first quarter worth about $53,000. Tower Research Capital LLC TRC purchased a new stake in shares of Eton Pharmaceuticals in the fourth quarter worth about $86,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Eton Pharmaceuticals in the first quarter worth about $101,000. Hedge funds and other institutional investors own 27.86% of the company’s stock.

Eton Pharmaceuticals Stock Up 15.1%

The stock has a market cap of $528.31 million, a PE ratio of -89.55 and a beta of 1.22. The business has a 50 day moving average price of $14.72 and a 200 day moving average price of $13.82.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $17.28 million for the quarter, compared to analysts’ expectations of $14.33 million. Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. On average, research analysts predict that Eton Pharmaceuticals, Inc. will post -0.14 earnings per share for the current fiscal year.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing, acquiring, and commercializing pharmaceutical products for rare diseases. The company offers ALKINDI SPRINKLE, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; Betaine Anhydrous for the treatment of homocystinuria; and Nitisinone for the treatment of tyrosinemia type 1.