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

B. Riley reiterated their buy rating on shares of Eton Pharmaceuticals (NASDAQ:ETON) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $24.00 price objective on the stock, up from their previous price objective of $21.00.

Several other research analysts have also commented on ETON. Craig Hallum lifted their target price on Eton Pharmaceuticals from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Eton Pharmaceuticals in a research report on Wednesday.

Eton Pharmaceuticals Stock Performance

Shares of NASDAQ ETON opened at $14.88 on Wednesday. Eton Pharmaceuticals has a 1 year low of $3.03 and a 1 year high of $18.41. The stock’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $11.45. The firm has a market cap of $387.64 million, a price-to-earnings ratio of -67.64 and a beta of 1.37.

Eton Pharmaceuticals (NASDAQ:ETON) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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, research analysts predict that Eton Pharmaceuticals will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Eton Pharmaceuticals by 86.6% during the 3rd 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 in the last quarter. Wasatch Advisors LP bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth approximately $1,431,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eton Pharmaceuticals during the third quarter valued at approximately $54,000. Parkman Healthcare Partners LLC boosted its holdings in Eton Pharmaceuticals by 2.8% during the third quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company’s stock worth $1,561,000 after buying an additional 7,029 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Eton Pharmaceuticals in the third quarter worth approximately $90,000. 27.86% of the stock is currently owned by institutional investors and hedge funds.

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.