What is HC Wainwright's Estimate for ETON FY2024 Earnings?

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) - Stock analysts at HC Wainwright lifted their FY2024 earnings estimates for Eton Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings per share of ($0.15) for the year, up from their previous forecast of ($0.17). HC Wainwright has a "Buy" rating and a $11.00 price objective 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 objective 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 Stock Performance

Shares of ETON traded up $0.01 on Monday, reaching $10.03. The stock had a trading volume of 240,284 shares, compared to its average volume of 95,614. Eton Pharmaceuticals has a 12-month low of $3.03 and a 12-month high of $11.11. The firm has a market capitalization of $259.14 million, a price-to-earnings ratio of -45.59 and a beta of 1.25. The company has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $5.04.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. bought 11,248 shares of the company's stock in a transaction on Monday, October 7th. The shares were acquired at an average cost of $7.22 per share, with a total value of $81,210.56. Following the completion of the acquisition, the insider now owns 2,730,000 shares of the company's stock, valued at $19,710,600. The trade was a 0.41 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 85,600 shares of company stock worth $462,674. 14.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eton Pharmaceuticals

Several large investors have recently modified their holdings of ETON. Nantahala Capital Management LLC purchased a new position in Eton Pharmaceuticals in the second quarter worth about $3,095,000. Westside Investment Management Inc. raised its holdings in Eton Pharmaceuticals by 2.0% in the 2nd quarter. Westside Investment Management Inc. now owns 585,400 shares of the company's stock worth $1,926,000 after acquiring an additional 11,440 shares during the last quarter. Geode Capital Management LLC raised its holdings in Eton Pharmaceuticals by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 272,696 shares of the company's stock worth $1,637,000 after acquiring an additional 32,365 shares during the last quarter. Parkman Healthcare Partners LLC boosted its stake in Eton Pharmaceuticals by 2.8% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 260,226 shares of the company's stock valued at $1,561,000 after purchasing an additional 7,029 shares during the last quarter. Finally, Wasatch Advisors LP bought a new stake in shares of Eton Pharmaceuticals in the 3rd quarter worth $1,431,000. Hedge funds and other institutional investors own 27.86% of the company's stock.

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.