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Eton Pharmaceuticals (NASDAQ:ETON), Inc. (market cap: $383 million) has reached an impressive milestone, with its stock price hitting an all-time high of $15.11. According to InvestingPro analysis, analysts see further upside potential with price targets reaching as high as $21. This peak reflects a significant surge in investor confidence, as evidenced by the stock's remarkable 238.15% climb over the past year. While the company is not yet profitable, with negative earnings in the last twelve months, the shares have propelled well beyond previous thresholds. Investors are closely monitoring the stock, anticipating future movements that could continue to redefine its market position. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of Eton's financial health and growth prospects.
In other recent news, Eton Pharmaceuticals has been the focus of several analyst actions and has reported significant progress in its financial performance. B.Riley initiated coverage on Eton with a Buy rating and a 12-month price target of $21.00 per share, citing optimism about Increlex and ET-400 potentially driving a revenue inflection point in 2025. The company has also reported 15 consecutive quarters of growth and recently posted its first positive GAAP net income quarter.
H.C. Wainwright adjusted its outlook on Eton, raising the price target to $17.00 while maintaining a Buy rating. This followed Eton's acquisition of Galzin, an FDA-approved treatment for Wilson Disease, and the acquisition of U.S. rights to Amglidia, a treatment for neonatal diabetes mellitus. Eton plans to begin U.S. commercialization of Galzin in 2025 and anticipates the launch of Amglidia in 2027.
Eton reported positive financial results in its Third Quarter 2024 Earnings Call, marking the 15th consecutive quarter of revenue growth. The company saw a 40% increase in product sales, amounting to $9.8 million, and reported a positive GAAP net income of $0.6 million. Eton's future plans include expanding its rare disease portfolio, targeting 10 commercial products, and $100 million in revenue. These are some of the recent developments in Eton Pharmaceuticals' business strategy and financial performance.
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