Eton Pharmaceuticals (NASDAQ:ETON), Inc. (market cap: $353.18M) has reached a remarkable milestone as its stock price soared to an all-time high of $14.05, marking a significant moment for the company and its investors. According to InvestingPro data, analysts have set a $15 price target for the stock, suggesting potential further upside. This peak comes amidst a year of substantial growth for Eton, with the stock witnessing an impressive 195.36% increase over the past year. The surge to this record price level reflects a period of robust performance and investor confidence, despite the company not being profitable in the last twelve months. InvestingPro analysis shows the stock trading near Fair Value, with additional insights available through their comprehensive Pro Research Report, which covers 1,400+ US stocks.
In other recent news, Eton Pharmaceuticals continues to show significant growth, marking its 15th consecutive quarter of revenue growth with a 40% increase in product sales, amounting to $9.8 million. The company reported a positive GAAP net income of $0.6 million in its third quarter of 2024. Eton Pharmaceuticals has also recently acquired the U.S. rights to Amglidia, a treatment for neonatal diabetes mellitus, from AMMTeK.
H.C. Wainwright adjusted its outlook on Eton Pharmaceuticals shares, increasing the price target to $15.00 from $11.00 while maintaining a Buy rating following the Amglidia acquisition. The strategic acquisition is seen as complementary to Eton’s existing pediatric endocrinology portfolio and is anticipated to contribute to the company's long-term revenue growth.
Eton Pharmaceuticals plans to engage with the FDA in the first quarter of 2025 to define the regulatory pathway for Amglidia. The company aims to expand its rare disease portfolio, targeting 10 commercial products and $100 million in revenue. Despite these positive developments, Eton anticipates a rise in SG&A expenses due to an expanded sales force, market education, and investments in infrastructure. These are the recent developments in Eton Pharmaceuticals' business strategy and financial performance.
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