Eton Pharmaceuticals’ (ETON) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a research report sent to investors on Wednesday, MarketBeat reports. HC Wainwright currently has a $9.00 price target on the stock. HC Wainwright also issued estimates for Eton Pharmaceuticals’ Q3 2024 earnings at ($0.01) EPS, Q4 2024 earnings at $0.01 EPS, FY2024 earnings at ($0.15) EPS and FY2025 earnings at $0.31 EPS.

Eton Pharmaceuticals Price Performance

ETON stock opened at $4.59 on Wednesday. The company has a market cap of $117.92 million, a P/E ratio of 114.75 and a beta of 1.30. Eton Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $5.81. The stock’s fifty day moving average price is $3.82 and its 200-day moving average price is $3.74.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The firm had revenue of $9.07 million for the quarter, compared to the consensus estimate of $10.00 million. Eton Pharmaceuticals had a negative net margin of 21.31% and a negative return on equity of 43.62%.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ETON. Victory Capital Management Inc. bought a new stake in Eton Pharmaceuticals during the fourth quarter valued at about $123,000. Renaissance Technologies LLC raised its stake in Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after purchasing an additional 41,469 shares during the period. Stonepine Capital Management LLC purchased a new position in Eton Pharmaceuticals in the 2nd quarter worth approximately $362,000. Thompson Siegel & Walmsley LLC bought a new position in Eton Pharmaceuticals in the 2nd quarter worth approximately $420,000. Finally, Acadian Asset Management LLC grew its holdings in Eton Pharmaceuticals by 13.7% during the 1st quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock valued at $585,000 after buying an additional 18,898 shares in the last quarter. 27.86% of the stock is currently owned by hedge funds and other institutional investors.

Eton Pharmaceuticals Company Profile

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.