HC Wainwright Issues Pessimistic Forecast for ETON Earnings

Eton Pharmaceuticals, Inc. (NASDAQ:ETON - Free Report) - HC Wainwright dropped their FY2024 EPS estimates for shares of Eton Pharmaceuticals in a report released on Tuesday, November 26th. HC Wainwright analyst S. Ramakanth now expects that the company will post earnings of ($0.17) per share for the year, down from their prior forecast of ($0.15). HC Wainwright has a "Buy" rating and a $15.00 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 ($0.04) EPS and FY2028 earnings at $1.58 EPS.

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

Eton Pharmaceuticals Stock Performance

Shares of ETON traded up $0.29 during mid-day trading on Thursday, reaching $12.74. 186,735 shares of the company's stock traded hands, compared to its average volume of 102,313. The business's 50-day moving average price is $8.37 and its 200-day moving average price is $5.42. The stock has a market capitalization of $329.15 million, a P/E ratio of -57.91 and a beta of 1.25. Eton Pharmaceuticals has a 12 month low of $3.03 and a 12 month high of $12.77.

Institutional Investors Weigh In On Eton Pharmaceuticals

Large investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC bought a new stake in shares of Eton Pharmaceuticals during the second quarter worth approximately $420,000. Aristides Capital LLC bought a new position in Eton Pharmaceuticals during the 2nd quarter worth about $658,000. Renaissance Technologies LLC lifted its stake in Eton Pharmaceuticals by 63.8% in 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 in the last quarter. Nantahala Capital Management LLC acquired a new position 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 about $362,000. 27.86% of the stock is currently owned by institutional investors.

Insider Activity

In other Eton Pharmaceuticals news, major shareholder Opaleye Management Inc. bought 16,852 shares of Eton Pharmaceuticals stock in a transaction that occurred on Friday, October 4th. The stock was purchased at an average cost of $6.77 per share, for a total transaction of $114,088.04. Following the completion of the acquisition, the insider now owns 2,720,000 shares of the company's stock, valued at approximately $18,414,400. This represents a 0.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 85,600 shares of company stock worth $462,674 over the last three months. Corporate insiders own 14.89% 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.