Eton Pharmaceuticals (NASDAQ:ETON) Cut to Sell at Zacks Investment Research

Eton Pharmaceuticals (NASDAQ:ETON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Eton Pharmaceuticals Inc. operates as a development stage biotechnology company. Its product pipeline consists of DS-300, EM-100, DS-100, DS-200, ET-103, ET-101, ET-102 and CT-100 which are in clinical stage. Eton Pharmaceuticals Inc. is based in Deer Park, Illinois. “

ETON has been the topic of several other reports. ValuEngine raised Eton Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price (up from $18.00) on shares of Eton Pharmaceuticals in a research report on Wednesday, October 23rd. Finally, B. Riley began coverage on Eton Pharmaceuticals in a research report on Friday, September 20th. They issued a “buy” rating and a $13.50 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.75.

Shares of ETON opened at $6.48 on Wednesday. The firm has a market capitalization of $107.38 million and a P/E ratio of -1.12. The stock’s fifty day simple moving average is $6.02 and its 200 day simple moving average is $6.53. Eton Pharmaceuticals has a twelve month low of $5.13 and a twelve month high of $10.20.

Eton Pharmaceuticals (NASDAQ:ETON) last issued its earnings results on Thursday, November 14th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05). On average, equities research analysts forecast that Eton Pharmaceuticals will post -1.13 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Eton Pharmaceuticals by 181.2% in the second quarter. BlackRock Inc. now owns 26,092 shares of the company’s stock valued at $206,000 after purchasing an additional 16,813 shares during the period. First Trust Advisors LP purchased a new position in Eton Pharmaceuticals in the third quarter valued at about $155,000. First Allied Advisory Services Inc. purchased a new position in Eton Pharmaceuticals in the third quarter valued at about $228,000. Vanguard Group Inc. raised its position in Eton Pharmaceuticals by 6.7% in the second quarter. Vanguard Group Inc. now owns 28,762 shares of the company’s stock valued at $227,000 after purchasing an additional 1,800 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Eton Pharmaceuticals by 122.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,139 shares of the company’s stock valued at $25,000 after purchasing an additional 1,728 shares during the period. 12.80% of the stock is currently owned by institutional investors.

Eton Pharmaceuticals Company Profile

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. It primarily focuses on liquid products, including injectable, oral liquid, and ophthalmic products. The company develops EM-100, an ophthalmic product for the treatment of allergic conjunctivitis; ET-202 and ET-203, which are injectable product candidates for use in the hospital setting; ET-103, an oral liquid product candidate for hypothyroidism; ET-101, ET-102, and ET-104, which are oral liquid product candidates for neurological indications; and CT-100, a synthetic corticotropin therapeutic candidate for rheumatoid arthritis.

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