Eton Pharmaceuticals price target raised to $35 from $30 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Eton Pharmaceuticals (ETON) to $35 from $30 and keeps a Buy rating on the shares following the company’s comprehensive Q4 update, which included a top-line beat of $21.3M vs. $20.0M, but was highlighted by bullish forward guidance and long-term targets. Management guided 2026 revenue above consensus at over $110M vs. $105.3M and introduced EBITDA margin guidance of at least 30%, implying about $33M, with differences vs the firm’s prior $39M largely explained by FDA program fees and higher R&D.