HC Wainwright Has Bullish Forecast for ETON FY2024 Earnings

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) – Analysts at HC Wainwright upped their FY2024 earnings per share estimates for shares of Eton Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now forecasts that the company will earn ($0.15) per share for the year, up from their prior forecast of ($0.17). HC Wainwright has a “Buy” rating and a $11.00 price target 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 target price on Eton Pharmaceuticals from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, October 28th.

Eton Pharmaceuticals Trading Down 4.2 %

NASDAQ:ETON opened at $10.02 on Monday. The firm has a market capitalization of $258.92 million, a price-to-earnings ratio of -45.55 and a beta of 1.25. The business’s 50-day moving average price is $7.40 and its two-hundred day moving average price is $5.00. Eton Pharmaceuticals has a 1-year low of $3.03 and a 1-year high of $11.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC boosted its stake 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 acquiring an additional 7,029 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Eton Pharmaceuticals in the third quarter worth approximately $54,000. Westside Investment Management Inc. grew its stake in Eton Pharmaceuticals by 2.0% in the second quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock valued at $1,926,000 after acquiring an additional 11,440 shares during the period. Jane Street Group LLC bought a new stake in shares of Eton Pharmaceuticals during the third quarter valued at approximately $90,000. Finally, Acadian Asset Management LLC raised its position in shares of Eton Pharmaceuticals by 13.7% during the first quarter. Acadian Asset Management LLC now owns 156,386 shares of the company’s stock worth $585,000 after purchasing an additional 18,898 shares during the period. 27.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eton Pharmaceuticals

In other news, major shareholder Opaleye Management Inc. purchased 11,248 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was bought at an average cost of $7.22 per share, for a total transaction of $81,210.56. Following the purchase, the insider now owns 2,730,000 shares of the company’s stock, valued at approximately $19,710,600. The trade was a 0.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 85,600 shares of company stock valued at $462,674. 14.89% of the stock is owned by corporate insiders.

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.