B.Riley Financial analyst Madison Elsaadi reiterated a Buy rating on Eton Pharmaceuticals (ETON – Research Report) today and set a price target of $21.00.
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Madison Elsaadi has given his Buy rating due to a combination of factors surrounding Eton Pharmaceuticals. Firstly, the company’s recent 3-month PDUFA delay is considered a minor event, not related to clinical or manufacturing issues, suggesting stability in their submission process. This delay also provides an opportunity for investors to enter the market before Eton’s upcoming quarterly results and fiscal year 2025 guidance, which are anticipated to offer significant commercial and regulatory updates.
Additionally, Eton’s Increlex launch is expected to be a major driver for the stock, with potential for a larger market than initially projected, especially if labeling criteria in the U.S. are updated. Moreover, other underappreciated catalysts such as the completion of the ET600 study and further FDA correspondence regarding Amglidia in the first half of 2025 add to the company’s promising outlook. These elements collectively contribute to the positive Buy rating from Elsaadi.
According to TipRanks, Elsaadi is a 3-star analyst with an average return of 32.0% and a 60.00% success rate.