Eton Pharmaceuticals (NASDAQ:ETON) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Eton Pharmaceuticals (NASDAQ:ETON) from a hold rating to a sell rating in a report released on Monday morning, 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. “

Separately, HC Wainwright increased their target price on Eton Pharmaceuticals from $18.00 to $20.00 and gave the company a buy rating in a research note on Wednesday, September 30th.

Eton Pharmaceuticals stock opened at $8.11 on Monday. The stock’s 50-day moving average is $8.01 and its 200-day moving average is $7.10. The company has a market cap of $196.38 million, a price-to-earnings ratio of -6.82 and a beta of 1.29. The company has a debt-to-equity ratio of 4.89, a current ratio of 3.04 and a quick ratio of 2.51. Eton Pharmaceuticals has a 12 month low of $2.50 and a 12 month high of $9.40.

Eton Pharmaceuticals (NASDAQ:ETON) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). The firm had revenue of ($0.16) million during the quarter, compared to the consensus estimate of $1.49 million. Research analysts anticipate that Eton Pharmaceuticals will post -1.16 EPS for the current year.

In related news, major shareholder Opaleye Management Inc. bought 400,000 shares of the stock in a transaction dated Friday, October 16th. The stock was acquired at an average price of $7.00 per share, for a total transaction of $2,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.92% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at approximately $121,000. Bank of America Corp DE acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at approximately $188,000. Charles Schwab Investment Management Inc. acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at approximately $265,000. New York State Common Retirement Fund acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at approximately $90,000. Finally, Bank of New York Mellon Corp acquired a new stake in Eton Pharmaceuticals during the 2nd quarter valued at approximately $182,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

About Eton Pharmaceuticals

Eton Pharmaceuticals, Inc, a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products. The company offers Biorphen, a phenylephrine hydrochloride injection for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia.

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