Zacks Investment Research upgraded shares of Eton Pharmaceuticals (NASDAQ:ETON) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $3.25 target price on the stock.
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. “
A number of other research analysts have also recently commented on the stock. ValuEngine upgraded shares of Eton Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, February 20th. HC Wainwright restated a buy rating and issued a $23.00 price objective on shares of Eton Pharmaceuticals in a report on Thursday, March 19th. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average target price of $13.25.
Eton Pharmaceuticals (NASDAQ:ETON) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.11. The firm had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.01 million. Research analysts forecast that Eton Pharmaceuticals will post -0.64 EPS for the current fiscal year.
An institutional investor recently bought a new position in Eton Pharmaceuticals stock. First Trust Advisors LP acquired a new stake in shares of Eton Pharmaceuticals Inc (NASDAQ:ETON) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,581 shares of the company’s stock, valued at approximately $155,000. First Trust Advisors LP owned about 0.14% of Eton Pharmaceuticals at the end of the most recent quarter. 14.68% of the stock is owned by hedge funds and other institutional investors.
About Eton Pharmaceuticals
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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