HC Wainwright Has Optimistic Outlook of ETON FY2024 Earnings

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) – HC Wainwright boosted their FY2024 EPS estimates for shares of Eton Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of ($0.15) for the year, up from their previous estimate of ($0.17). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for Eton Pharmaceuticals’ current full-year earnings is ($0.15) per share. HC Wainwright also issued estimates for Eton Pharmaceuticals’ Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.44 EPS.

Separately, Craig Hallum increased their price target on shares of Eton Pharmaceuticals from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, October 28th.

Eton Pharmaceuticals Stock Down 4.2 %

NASDAQ ETON opened at $10.02 on Monday. The stock’s 50-day simple moving average is $7.40 and its two-hundred day simple moving average is $5.00. Eton Pharmaceuticals has a twelve month low of $3.03 and a twelve month high of $11.11. The company has a market capitalization of $258.92 million, a price-to-earnings ratio of -45.55 and a beta of 1.25.

Insider Activity at Eton Pharmaceuticals

In other news, major shareholder Opaleye Management Inc. acquired 57,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $4.65 per share, with a total value of $267,375.00. Following the transaction, the insider now owns 2,660,000 shares of the company’s stock, valued at $12,369,000. This trade represents a 2.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired a total of 85,600 shares of company stock valued at $462,674 in the last three months. Company insiders own 14.89% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

Several institutional investors have recently modified their holdings of ETON. Geode Capital Management LLC grew its position in Eton Pharmaceuticals by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 272,696 shares of the company’s stock worth $1,637,000 after purchasing an additional 32,365 shares during the period. Jane Street Group LLC purchased a new position in shares of Eton Pharmaceuticals in the 3rd quarter worth $90,000. Parkman Healthcare Partners LLC grew its holdings in shares of Eton Pharmaceuticals by 2.8% in the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock worth $1,561,000 after acquiring an additional 7,029 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eton Pharmaceuticals during the third quarter valued at $54,000. Finally, Wasatch Advisors LP bought a new position in Eton Pharmaceuticals in the third quarter valued at about $1,431,000. 27.86% 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, 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.