Eton Pharmaceuticals (NASDAQ:ETON) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The firm currently has $6.50 price target on the stock.

According to Zacks, “Eton Pharmaceuticals Inc. operates as a development stage biotechnology company. Its product pipeline consists of DS-300, EM-100, DS-100, DS-200, ET-103, ET-101, ET-102 and CT-100 which are in clinical stage. Eton Pharmaceuticals Inc. is based in Deer Park, Illinois. “

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a buy rating and issued a $18.00 target price on shares of Eton Pharmaceuticals in a research report on Monday, August 5th. ValuEngine upgraded shares of Eton Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Lake Street Capital assumed coverage on shares of Eton Pharmaceuticals in a research report on Monday, August 5th. They issued a buy rating for the company. Finally, B. Riley initiated coverage on shares of Eton Pharmaceuticals in a research report on Friday, September 20th. They issued a buy rating and a $13.50 target price for the company. Five research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of $12.67.

Shares of NASDAQ ETON opened at $6.43 on Tuesday. The firm has a 50-day simple moving average of $6.14 and a 200-day simple moving average of $6.96. The company has a current ratio of 11.48, a quick ratio of 11.48 and a debt-to-equity ratio of 0.01. Eton Pharmaceuticals has a 52 week low of $5.13 and a 52 week high of $10.20.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.12. Analysts anticipate that Eton Pharmaceuticals will post -1.11 EPS for the current fiscal year.

In other news, CEO Sean Brynjelsen acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $6.15 per share, with a total value of $30,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.46% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Eton Pharmaceuticals by 6.7% in the second quarter. Vanguard Group Inc. now owns 28,762 shares of the company’s stock valued at $227,000 after purchasing an additional 1,800 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Eton Pharmaceuticals by 122.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,139 shares of the company’s stock valued at $25,000 after purchasing an additional 1,728 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Eton Pharmaceuticals by 181.2% in the second quarter. BlackRock Inc. now owns 26,092 shares of the company’s stock valued at $206,000 after purchasing an additional 16,813 shares during the period. 9.95% of the stock is owned by hedge funds and other institutional investors.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. It primarily focuses on liquid products, including injectable, oral liquid, and ophthalmic products. The company develops EM-100, an ophthalmic product for the treatment of allergic conjunctivitis; ET-202 and ET-203, which are injectable product candidates for use in the hospital setting; ET-103, an oral liquid product candidate for hypothyroidism; ET-101, ET-102, and ET-104, which are oral liquid product candidates for neurological indications; and CT-100, a synthetic corticotropin therapeutic candidate for rheumatoid arthritis.

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