HC Wainwright Has Positive Forecast for ETON FY2024 Earnings

Eton Pharmaceuticals, Inc. (NASDAQ:ETON) – Equities research analysts at HC Wainwright lifted their FY2024 earnings estimates for shares of Eton Pharmaceuticals in a report released on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now anticipates that the company will post earnings per share of ($0.15) for the year, up from their prior estimate of ($0.17). HC Wainwright currently has a “Buy” rating and a $11.00 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 ($0.02) EPS and FY2025 earnings at $0.44 EPS.

Separately, Craig Hallum increased their price target on Eton Pharmaceuticals from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, October 28th.

Eton Pharmaceuticals Price Performance

Shares of Eton Pharmaceuticals stock opened at $10.03 on Monday. The business has a 50-day simple moving average of $7.50 and a 200 day simple moving average of $5.04. The firm has a market capitalization of $259.14 million, a price-to-earnings ratio of -45.59 and a beta of 1.25. Eton Pharmaceuticals has a one year low of $3.03 and a one year high of $11.11.

Insider Buying and Selling at Eton Pharmaceuticals

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. purchased 16,852 shares of the stock in a transaction on Friday, October 4th. The stock was acquired at an average cost of $6.77 per share, with a total value of $114,088.04. Following the completion of the purchase, the insider now directly owns 2,720,000 shares of the company’s stock, valued at approximately $18,414,400. This trade represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought 85,600 shares of company stock worth $462,674 over the last 90 days. Corporate insiders own 14.89% of the company’s stock.

Institutional Investors Weigh In On Eton Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eton Pharmaceuticals during the third quarter valued at approximately $54,000. Jane Street Group LLC purchased a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth about $90,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Eton Pharmaceuticals by 86.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,014 shares of the company’s stock worth $390,000 after acquiring an additional 30,167 shares in the last quarter. Renaissance Technologies LLC lifted its position in Eton Pharmaceuticals by 63.8% during the 2nd quarter. Renaissance Technologies LLC now owns 106,500 shares of the company’s stock valued at $350,000 after acquiring an additional 41,469 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in Eton Pharmaceuticals during the second quarter worth about $362,000. 27.86% of the stock is currently owned by 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.