Eton Pharmaceuticals’ (ETON) “Buy” Rating Reiterated at B. Riley

Eton Pharmaceuticals (NASDAQ:ETON)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $24.00 target price on the stock, up from their prior target price of $21.00. B. Riley’s price objective would indicate a potential upside of 64.55% from the stock’s current price.

Other research analysts have also issued reports about the stock. Craig Hallum boosted their price target on shares of Eton Pharmaceuticals from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Eton Pharmaceuticals in a research report on Wednesday.

Eton Pharmaceuticals Stock Performance

ETON stock traded down $0.10 during midday trading on Wednesday, reaching $14.59. 81,386 shares of the company’s stock traded hands, compared to its average volume of 157,483. The company has a 50-day moving average price of $15.45 and a two-hundred day moving average price of $11.42. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $18.41. The firm has a market capitalization of $379.95 million, a PE ratio of -66.30 and a beta of 1.37.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $11.65 million during the quarter, compared to analyst estimates of $10.53 million. Eton Pharmaceuticals had a negative net margin of 15.81% and a negative return on equity of 36.29%. As a group, analysts predict that Eton Pharmaceuticals will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eton Pharmaceuticals in the third quarter worth $54,000. Tower Research Capital LLC TRC purchased a new position in Eton Pharmaceuticals in the fourth quarter worth $86,000. Jane Street Group LLC purchased a new position in Eton Pharmaceuticals in the third quarter worth $90,000. Jefferies Financial Group Inc. purchased a new position in Eton Pharmaceuticals in the fourth quarter worth $133,000. Finally, Raymond James Financial Inc. purchased a new position in Eton Pharmaceuticals in the fourth quarter worth $147,000. 27.86% of the stock is currently 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.