What is HC Wainwright’s Forecast for ETON FY2024 Earnings?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) – Equities research analysts at HC Wainwright decreased their FY2024 earnings estimates for Eton Pharmaceuticals in a research note issued on Tuesday, November 26th. HC Wainwright analyst S. Ramakanth now forecasts that the company will earn ($0.17) per share for the year, down from their previous forecast of ($0.15). HC Wainwright currently has a “Buy” rating and a $15.00 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 ($0.04) EPS and FY2028 earnings at $1.58 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 research note on Monday, October 28th.

Eton Pharmaceuticals Stock Performance

Shares of ETON opened at $12.74 on Thursday. The firm’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $5.42. The firm has a market cap of $329.15 million, a P/E ratio of -57.91 and a beta of 1.25. Eton Pharmaceuticals has a 52 week low of $3.03 and a 52 week high of $12.77.

Institutional Trading of Eton Pharmaceuticals

Large investors have recently modified their holdings of the stock. Westside Investment Management Inc. lifted its position in Eton Pharmaceuticals by 2.0% during the second quarter. Westside Investment Management Inc. now owns 585,400 shares of the company’s stock worth $1,926,000 after purchasing an additional 11,440 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Eton Pharmaceuticals during the 2nd quarter worth approximately $420,000. Renaissance Technologies LLC raised its position in Eton Pharmaceuticals by 63.8% during the second quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after purchasing an additional 41,469 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in Eton Pharmaceuticals during the second quarter worth $3,095,000. Finally, Stonepine Capital Management LLC bought a new position in shares of Eton Pharmaceuticals in the 2nd quarter valued at $362,000. 27.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Opaleye Management Inc. purchased 57,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $4.65 per share, for a total transaction of $267,375.00. Following the completion of the purchase, the insider now owns 2,660,000 shares in the company, valued at approximately $12,369,000. This represents a 2.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders acquired 85,600 shares of company stock valued at $462,674. 14.89% of the stock is owned by company 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.