Eton Pharmaceuticals (NASDAQ:ETON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, Zacks.com reports.
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. “
ETON has been the subject of a number of other research reports. B. Riley initiated coverage on shares of Eton Pharmaceuticals in a research report on Friday, September 20th. They set a “buy” rating and a $13.50 target price for the company. HC Wainwright restated a “buy” rating and set a $21.00 price target (up previously from $18.00) on shares of Eton Pharmaceuticals in a report on Wednesday, October 23rd. Finally, ValuEngine downgraded shares of Eton Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $13.75.
Shares of NASDAQ ETON traded up $0.08 during trading on Monday, reaching $6.98. The company had a trading volume of 83,900 shares, compared to its average volume of 68,994. The stock has a market cap of $122.87 million and a P/E ratio of -1.20. The company’s fifty day moving average price is $6.16 and its 200-day moving average price is $6.44. Eton Pharmaceuticals has a 12 month low of $5.13 and a 12 month high of $10.20.
Eton Pharmaceuticals (NASDAQ:ETON) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.05). As a group, sell-side analysts forecast that Eton Pharmaceuticals will post -1.13 EPS for the current year.
A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Eton Pharmaceuticals by 122.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,139 shares of the company’s stock worth $25,000 after acquiring an additional 1,728 shares during the period. Vanguard Group Inc. lifted its stake in shares of Eton Pharmaceuticals by 6.7% in the 2nd 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. BlackRock Inc. boosted its position in shares of Eton Pharmaceuticals by 181.2% during the 2nd quarter. BlackRock Inc. now owns 26,092 shares of the company’s stock valued at $206,000 after purchasing an additional 16,813 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Eton Pharmaceuticals during the 3rd quarter valued at about $155,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Eton Pharmaceuticals during the third quarter worth approximately $228,000. Hedge funds and other institutional investors own 12.80% of the company’s stock.
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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