(ETON) Eton Pharmaceuticals - Overview
Stock: Adrenal, Wilson, PKU, Tyrosinemia, Diabetes
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 48.4% |
| Relative Tail Risk | -22.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.16 |
| Alpha | -27.47 |
| Character TTM | |
|---|---|
| Beta | 0.984 |
| Beta Downside | 1.001 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.65% |
| CAGR/Max DD | 1.37 |
Description: ETON Eton Pharmaceuticals December 29, 2025
Eton Pharmaceuticals (NASDAQ: ETON) is a U.S.-based biotech that commercializes a portfolio of orphan-drug products for rare metabolic disorders, including Increlex (severe primary IGF-1 deficiency) and Alkindi Sprinkle (adrenal insufficiency). The firm’s pipeline features several late-stage candidates such as ET-400 and ET-800 for adrenal insufficiency, ET-600 for diabetes insipidus, and ZENEO, a hydrocortisone autoinjector for adrenal crisis.
Key performance indicators (FY 2023): revenue of $23 million, cash and cash equivalents of $115 million, and a runway extending beyond 24 months at current burn rates. The company’s R&D spend was $38 million, reflecting its focus on advancing five Phase III programs.
Sector drivers that materially affect Eton’s outlook include the U.S. Orphan Drug Act’s 7-year exclusivity and premium pricing (average 5-10× that of non-orphan drugs), as well as the projected 8 % CAGR growth of the global rare-disease therapeutics market through 2030. Additionally, reimbursement trends for specialty oral liquids and autoinjectors are tightening, creating both pricing pressure and an incentive to demonstrate superior health-economic outcomes.
For a deeper dive into ETON’s valuation metrics, see the ValueRay analysis.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: -6.68m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.20 > 0.02 and ΔFCF/TA 21.60 > 1.0 |
| NWC/Revenue: 39.56% < 20% (prev 28.88%; Δ 10.68% < -1%) |
| CFO/TA 0.20 > 3% & CFO 21.3m > Net Income -6.68m |
| Net Debt (-33.9m) to EBITDA (1.32m): -25.60 < 3 |
| Current Ratio: 1.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (26.9m) vs 12m ago 1.29% < -2% |
| Gross Margin: 51.36% > 18% (prev 0.59%; Δ 5077 % > 0.5%) |
| Asset Turnover: 100.2% > 50% (prev 96.75%; Δ 3.45% > 0%) |
| Interest Coverage Ratio: -0.42 > 6 (EBITDA TTM 1.32m / Interest Expense TTM 4.91m) |
Altman Z'' -3.48
| A: 0.27 (Total Current Assets 72.0m - Total Current Liabilities 44.2m) / Total Assets 104.5m |
| B: -1.09 (Retained Earnings -114.0m / Total Assets 104.5m) |
| C: -0.03 (EBIT TTM -2.06m / Avg Total Assets 70.2m) |
| D: -1.40 (Book Value of Equity -114.0m / Total Liabilities 81.4m) |
| Altman-Z'' Score: -3.48 = D |
Beneish M -1.79
| DSRI: 1.15 (Receivables 13.1m/5.59m, Revenue 70.3m/34.7m) |
| GMI: 1.15 (GM 51.36% / 59.30%) |
| AQI: 1.86 (AQ_t 0.31 / AQ_t-1 0.16) |
| SGI: 2.03 (Revenue 70.3m / 34.7m) |
| TATA: -0.27 (NI -6.68m - CFO 21.3m) / TA 104.5m) |
| Beneish M-Score: -1.79 (Cap -4..+1) = B |
What is the price of ETON shares?
Over the past week, the price has changed by -0.07%, over one month by -11.84%, over three months by -20.05% and over the past year by -17.87%.
Is ETON a buy, sell or hold?
- StrongBuy: 2
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the ETON price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 30 | 103.4% |
| Analysts Target Price | 30 | 103.4% |
| ValueRay Target Price | 16.7 | 12.9% |
ETON Fundamental Data Overview February 02, 2026
P/S = 5.7246
P/B = 17.3944
Revenue TTM = 70.3m USD
EBIT TTM = -2.06m USD
EBITDA TTM = 1.32m USD
Long Term Debt = 27.6m USD (from longTermDebt, last quarter)
Short Term Debt = 2.78m USD (from shortTermDebt, last quarter)
Debt = 3.26m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -33.9m USD (from netDebt column, last quarter)
Enterprise Value = 368.7m USD (402.5m + Debt 3.26m - CCE 37.1m)
Interest Coverage Ratio = -0.42 (Ebit TTM -2.06m / Interest Expense TTM 4.91m)
EV/FCF = 17.54x (Enterprise Value 368.7m / FCF TTM 21.0m)
FCF Yield = 5.70% (FCF TTM 21.0m / Enterprise Value 368.7m)
FCF Margin = 29.89% (FCF TTM 21.0m / Revenue TTM 70.3m)
Net Margin = -9.50% (Net Income TTM -6.68m / Revenue TTM 70.3m)
Gross Margin = 51.36% ((Revenue TTM 70.3m - Cost of Revenue TTM 34.2m) / Revenue TTM)
Gross Margin QoQ = 34.97% (prev 63.00%)
Tobins Q-Ratio = 3.53 (Enterprise Value 368.7m / Total Assets 104.5m)
Interest Expense / Debt = 37.22% (Interest Expense 1.21m / Debt 3.26m)
Taxrate = 21.0% (US default 21%)
NOPAT = -1.63m (EBIT -2.06m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.63 (Total Current Assets 72.0m / Total Current Liabilities 44.2m)
Debt / Equity = 0.14 (Debt 3.26m / totalStockholderEquity, last quarter 23.1m)
Debt / EBITDA = -25.60 (Net Debt -33.9m / EBITDA 1.32m)
Debt / FCF = -1.61 (Net Debt -33.9m / FCF TTM 21.0m)
Total Stockholder Equity = 24.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.52% (Net Income -6.68m / Total Assets 104.5m)
RoE = -27.85% (Net Income TTM -6.68m / Total Stockholder Equity 24.0m)
RoCE = -3.99% (EBIT -2.06m / Capital Employed (Equity 24.0m + L.T.Debt 27.6m))
RoIC = -3.01% (negative operating profit) (NOPAT -1.63m / Invested Capital 54.1m)
WACC = 9.70% (E(402.5m)/V(405.8m) * Re(9.54%) + D(3.26m)/V(405.8m) * Rd(37.22%) * (1-Tc(0.21)))
Discount Rate = 9.54% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.21%
[DCF Debug] Terminal Value 62.95% ; FCFF base≈21.0m ; Y1≈13.8m ; Y5≈6.29m
Fair Price DCF = 4.81 (EV 95.2m - Net Debt -33.9m = Equity 129.1m / Shares 26.8m; r=9.70% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 28.44 | EPS CAGR: 160.0% | SUE: -3.60 | # QB: 0
Revenue Correlation: 75.40 | Revenue CAGR: 41.61% | SUE: 1.95 | # QB: 4
EPS next Quarter (2026-03-31): EPS=0.19 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=1.01 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=+173.0% | Growth Revenue=+29.7%