Eton Pharmaceuticals, Inc. (ETON) Stock Price & Analysis
Eton Pharmaceuticals, Inc. (ETON) closed at USD 50.02 on Thursday, October 22, 2026, up 1.46% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 49.3; the Oct 22, 2026 session ranged USD 48.74–50.32 on volume of 483,677 shares. Market capitalization is $1.43B, with a 52-week range of USD 14.27–66.37 (NGM). Source: Nexqual, retrieved October 23, 2026 at 09:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ETON.md
Key facts (ETON)
- Last four reported quarters (through Jun 30, 2026): revenue $106M, net income $12.7M (12.0% margin), free cash flow $14.7M (SEC filings).
- 1 of 80 tracked superinvestors hold ETON (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 9 Form 4 filings, $25.4M; 9 not under a Rule 10b5-1 plan ($25.4M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +169.8% vs S&P 500 +14.9%; 5Y +807.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-12, EPS estimate USD 0.37, revenue estimate $42.2M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ETON)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $21.8M | $21.3M | $31.6M | $39.0M | $80.0M | $106M |
| Gross profit | $19.0M | $14.3M | $21.1M | $23.4M | $42.7M | — |
| Operating income | -$1.5M | -$8.3M | -$1.2M | -$2.6M | -$844K | $16.3M |
| Net income | -$2.0M | -$9.0M | -$936K | -$3.8M | -$4.6M | $12.7M |
| EPS (diluted) | -$0.08 | — | — | — | — | — |
| Free cash flow | -$4.7M | $4.8M | $6.8M | $943K | $10.2M | $14.7M |
| Gross margin | 87.1% | 67.4% | 66.6% | 60.0% | 53.5% | — |
| Operating margin | -6.8% | -38.9% | -3.8% | -6.7% | -1.1% | 15.4% |
| Net margin | -9.0% | -42.4% | -3.0% | -9.8% | -5.8% | 12.0% |
| Revenue growth | +55879.5% | -2.7% | +48.9% | +23.3% | +104.9% | — |
| Cash + short-term investments | $14.4M | $16.3M | $21.4M | $14.9M | $25.9M | — |
| Total debt | $6.7M | $6.4M | $5.4M | $29.8M | $30.6M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (ETON)
Superinvestors (SEC 13F-HR, Q2 2026) (ETON)
1 of 80 tracked investors hold ETON. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.01% | $1.6M | Added +50.6% |
Insider sales (SEC Form 4, open-market, last ~7 months) (ETON)
0 of 9 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-06 | Krempa David | Chief Business Officer | 4,166 | $229K | 8.8% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-28 | Maier Paul V | Director | 50,000 | $3.0M | 45.6% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-24 | Krempa David | Chief Business Officer | 25,000 | $1.6M | 40.3% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-08-19…2026-08-20 | Brynjelsen Sean | President & CEO | 100,000 | $6.1M | 9.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-07-14 | Opaleye Management Inc. | 28,315 | $1.1M | 1% | No | Too little history (no open-market trades in 2023) | |
| 2026-07-02…2026-07-07 | Opaleye Management Inc. | 126,685 | $4.8M | 4.4% | No | Too little history (no open-market trades in 2023) | |
| 2026-06-17 | Adams Jennifer McKie | Director | 50,000 | $1.6M | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-28 | Brynjelsen Sean | President & CEO | 120,000 | $3.8M | 12.6% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-22…2026-05-27 | Krempa David | Chief Business Officer | 100,000 | $3.2M | 79.8% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (ETON)
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | HC Wainwright & Co. | Reiterated | Buy | $70 |
| 2026-08-14 | Canaccord Genuity | Target raised | Buy | $60 → $68 |
| 2026-08-14 | B. Riley Securities | Target raised | Buy | $40 → $70 |
| 2026-08-14 | HC Wainwright & Co. | Target raised | Buy | $65 → $70 |
| 2026-08-11 | HC Wainwright & Co. | Target raised | Buy | $57 → $65 |
| 2026-07-28 | Craig-Hallum | Target raised | Buy | $40 → $62 |
| 2026-07-17 | Canaccord Genuity | Initiated | Buy | $60 |
Total return (dividends reinvested) (ETON)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +169.8% | +807.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +170.7% | +55.3% |
| Volatility (annualized) | 66.3% | 56.7% |
| Max drawdown | -25.4% (Nov 2025→Feb 2026) | -67.1% (Nov 2021→Sep 2022) |
ETON revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Product | $37.6M | 100.0% | +98.6% |
| Total revenue | $37.6M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
ETON suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | SWK Holdings | “The decrease in cash from financing activities during the twelve-months ended December 31, 2025 was primarily associated with net proceeds received from expanding our credit agreement with SWK Holdings Corporation ("SWK") and proceeds from common stock issued in a private placement offering in 2024.” |
Quoted from the company's 10-K filed Mar 19, 2026.
ETON company outlook (results filed Aug 13, 2026)
- “The Company now expects 2026 revenues to exceed $145 million, an increase from prior guidance of more than $120 million.”
- “In addition, the Company now expects to report at least a 35% Adjusted EBITDA margin, an increase from prior guidance of at least 30%.”
- “The revised Adjusted EBITDA guidance is inclusive of a $3 million licensing payment for ASN-001 which will be expensed in the third quarter, incremental second half R&D expenses related to ASN-001's bioavailability study, and a potential, one-time $4 million commercial milestone payment related to ALKINDI SPRINKLE sales performance, which may be triggered in the fourth quarter of 2026.”
- “The Company expects full year 2026 adjusted gross margin to exceed 70%, inclusive of the potential $4 million commercial milestone referred to above.”
Quoted word-for-word from the SEC 8-K results press release.
ETON analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.37 | $0.31 | +19.4% | $42.2M | 2 |
| Next quarter (ends Dec 2026) | $0.43 | $0.40 | +8.7% | $46.4M | 2 |
| Current fiscal year (ends Dec 2026) | $1.40 | $1.04 | +34.0% | $149.7M | 2 |
| Next fiscal year (ends Dec 2027) | $2.55 | $2.14 | +19.2% | $220.4M | 2 |
Key Statistics (as of October 23, 2026 at 09:22 UTC)
| Price | USD 50.02 |
|---|---|
| Change | ▲ 1.46% (up) |
| Previous Close | USD 49.3 |
| Open | USD 49.36 |
| Day Range | USD 48.74 – 50.32 |
| 52-Week Range | USD 14.27 – 66.37 |
| Volume | 483,677 shares |
| Market Cap | $1.43B |
| Exchange | NGM |
Technical Analysis (ETON)
Nexqual's technical model rates ETON "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:22 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 37.02 (neutral) |
| vs SMA50 | Below (USD 56.75) |
| MACD | -1.67 (negative) |
Earnings (ETON)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD 0.37 |
| Revenue Estimate | $42.21M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.43 vs est 0.19 ▲ beat |
| 2026-03-31 | USD 0.14 vs est 0.14 ▲ beat |
| 2025-12-31 | USD 0.19 vs est 0.2 ▼ miss |
| 2025-09-30 | USD 0.04 vs est 0.16 ▼ miss |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Financials & Fundamentals (ETON)
| Total Revenue | $105.59M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +98.60% |
| Gross Margin | +61.41% |
| Operating Margin | +35.77% |
| Profit Margin | +12.02% |
| ROE | +35.97% |
| Debt / Equity | 0.63 |
| Current Ratio | 1.52 |
| Total Cash | $26.84M |
| Total Debt | $29.23M |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Ownership (ETON)
| Insider Ownership | +4.89% |
|---|---|
| Institutional Ownership | +71.47% |
| Shares Outstanding | 28.58M |
| Float | 22.30M |
| Short % of Float | +8.87% |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
Leadership (ETON)
Eton Pharmaceuticals, Inc. is led by Sean E. Brynjelsen, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:22 UTC.
| President, CEO & Director | Sean E. Brynjelsen |
|---|---|
| Chief Financial Officer & Secretary | Judith M. Matthews |
| Chief Operating Officer | Danka Radosavljevic |
| Senior Vice President of Sales Operations | Scott Grossenbach |
Major Backers & Investors (ETON)
Notable institutional backers of Eton Pharmaceuticals, Inc. include Opaleye Management Inc., EcoR1 Capital, LLC, Nantahala Capital Management, LLC, according to Nexqual as of October 23, 2026 at 09:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Opaleye Management Inc. | 10.01% |
| EcoR1 Capital, LLC | 7.6% |
| Nantahala Capital Management, LLC | 4.11% |
| Morgan Stanley | 2.69% |
| Fidelity | 2.36% |
| Oberweis Asset Management Inc. | 1.75% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 6.63% |
| Vanguard Group | 3.42% |
| State Street | 2.46% |
| Geode Capital | 2.28% |
Source: Nexqual, October 23, 2026 at 09:22 UTC.
From Eton Pharmaceuticals, Inc.'s Latest SEC 10-K Filing (filed 2026-03-19)
Key Strengths & Strategy (as disclosed to the SEC)
- After the FDA evaluates the NDA and inspects manufacturing facilities where the drug product and/or its API will be produced, it will either approve commercial marketing of the drug product with prescribing information for specific indications or issue a Complete Response Letter ("CRL") indicating that the application is not ready for approval and stating the conditions that must be met in order to secure approval of the NDA.
- For example, if we change the manufacturer of a product or our API, the FDA may require stability or other data from the new manufacturer.
- Our success depends in part on our ability to obtain patents, to protect trade secrets, to operate without infringing upon the proprietary rights of others and to prevent others from infringing on our proprietary rights.
- We also rely on our trade secrets, know-how and continuing technological innovation to develop and maintain our proprietary position.
Partnerships
- Amglidia® - In November 2024, we entered into a licensing agreement with AMMTeK., pursuant to which we have agreed to acquire the U.S. rights to Amglidia® (glyburide oral suspension), which we also have a license to the issued patent on Amglidia®.
Legal & Regulatory Risks (Item 1A, quoted)
- We may operate or support patient services and assistance programs, and government scrutiny of these activities could require us to curtail such programs, reducing patient access and adversely affecting demand for our products.
- Risks Related to Product Development, Regulatory Approval, Manufacturing and Commercialization
- Our competitors may obtain FDA or other regulatory approval for comparable products more rapidly than we may obtain approval for ours, and the risk of our competitors doing so may lead us to develop drug candidates without disclosing certain information with regard to such candidates.
- We are subject to ongoing obligations and continued regulatory review, which may result in significant additional expense. Additionally, our product candidates could be subject to labeling and other restrictions and withdrawal from the market, and we may be subject to penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our product candidates.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| BHC | Bausch Health Companies Inc. | USD 6.49 | ▲ 0.62% |
| SUPN | Supernus Pharmaceuticals, Inc. | USD 42.07 | ▲ 2.09% |
| HCM | HUTCHMED (China) Limited | USD 14.28 | ▼ 0.63% |
| LQDA | Liquidia Corporation | USD 39.69 | ▲ 2.14% |
| AMLX | Amylyx Pharmaceuticals, Inc. | USD 28.57 | ▼ 1.58% |
| INDV | Indivior Pharmaceuticals, Inc. | USD 35.33 | ▲ 1.55% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt