Eton Pharmaceuticals (NASDAQ:ETON) Given “Buy” Rating at B. Riley

B. Riley reaffirmed their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $24.00 price objective on the stock, up from their prior price objective of $21.00.

A number of other research analysts have also recently weighed in on ETON. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Eton Pharmaceuticals in a research report on Wednesday. Craig Hallum raised their target price on shares of Eton Pharmaceuticals from $15.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, January 8th.

Eton Pharmaceuticals Trading Up 1.4 %

ETON stock opened at $14.88 on Wednesday. The company’s 50-day moving average price is $15.51 and its 200 day moving average price is $11.45. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $18.41. The company has a market cap of $387.64 million, a P/E ratio of -67.64 and a beta of 1.37.

Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). Eton Pharmaceuticals had a negative return on equity of 36.29% and a negative net margin of 15.81%. The business had revenue of $11.65 million for the quarter, compared to analyst estimates of $10.53 million. On average, equities research analysts expect that Eton Pharmaceuticals will post -0.14 earnings per share for the current year.

Institutional Trading of Eton Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Eton Pharmaceuticals by 86.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock valued at $390,000 after purchasing an additional 30,167 shares during the last quarter. Wasatch Advisors LP purchased a new position in shares of Eton Pharmaceuticals during the 3rd quarter worth about $1,431,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eton Pharmaceuticals in the third quarter worth approximately $54,000. Parkman Healthcare Partners LLC grew its holdings in Eton Pharmaceuticals by 2.8% in the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock valued at $1,561,000 after purchasing an additional 7,029 shares during the period. Finally, Jane Street Group LLC acquired a new position in Eton Pharmaceuticals during the third quarter worth approximately $90,000. Institutional investors and hedge funds own 27.86% of the company’s stock.

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.