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ETON

ETON

Eton Pharmaceuticals, Inc.
$49.30
-1.77% Oct 21 close
Healthcare Compare
-22%+46%+114%+182%+250%Oct 2025Oct 2026Apr 2026
ETONSPY
1W
-6.8%
1M
-10.9%
3M
+13.1%
6M
+108.8%
YTD
+191.5%
1Y
+165.8%

Live chart

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What they do

Eton Pharmaceuticals, Inc., a pharmaceutical company, focuses on developing and commercializing treatments for rare diseases. Its commercial rare disease products include Increlex for the treatment of severe primary igf-1 deficiency; Alkindi Sprinkle for adrenal insufficiency. The company is also developing various product candidates, which are in late-stage development, including ET-600 for diabetes insipidus.

Healthcare · Drug Manufacturers - Specialty & Generic

For information only · Important disclosures

Grades vs sector

No sector grades for ETON yet. Grades rank S&P 1500 stocks within their sector and refresh after each daily data run, so a stock outside that index or newly covered has none.

Our models

Held by 1 of 5 live models: New Highs Growth.

New Highs Growth
4.0% of the book
Held
Quality Growth
Outside this model's universe or screens
Momentum Top 15
Outside this model's universe or screens
Momentum Blend
Not in the current book
Coteau Long Book
Not in the current book
Why it's in the New Highs Growth

Qualified on Pharma, -20% from 52-week high, revenue +99% y/y, 12-1 momentum +169%.

What would knock it out: Drops out if it falls outside the top 25 at the next rebalance (Oct 30). In the latest preview (2026-10-20) it is outside the top 25.

News

More news
No recent headlines.

Key stats

Market value$1.4B
P/E (last 12 months)124.2
P/E (next 12 months, estimated)19.5
52-week range$14.27 – $66.37
Revenue growth (latest quarter vs a year ago)+98.6%
Dividend yieldNo dividend
Analyst consensusStrong Buy (4)
Average analyst price target$71.50 (+45%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans expensive
Model read-out from the numbers below, not advice. Score -1 (DCF counts double).
▼DCF (base case)below the price by 24%
•Piotroski F-score5/9
▲Altman Z12.7 (safe)
▲Net debt / EBITDA0.0x
▲Analyst target+45% (4 analysts)

Discounted cash flow

Bear
$16
-68%
growth 18% · disc. 9.8% · term. 2.0%
Base
$37
-24%
growth 30% · disc. 8.8% · term. 2.5%
Bull
$73
+48%
growth 38% · disc. 7.8% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 26% a year for 10 years.
Implied
+26%/yr
FCF, last 3 yrs
+29%/yr
FCF, last 5 yrs
n/a
Revenue, last 3 yrs
+56%/yr
Revenue, last 5 yrs
>150%/yr
Same inputs as the DCF above: trailing free cash flow 0.0B, 8.8% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.90 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs sector

Forward EPS $2.55 vs trailing $0.40 (+537% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
57.9%
Operating margin
15.4%
FCF margin
14.0%
Net margin
12.0%
Return on equity
27.2%
Return on invested capital
34.1%
Net debt / EBITDA
0.0×
Current ratio
1.5×
Interest cover
17.6×
Cash conversion (OCF/NI)
1.2×
Piotroski F-score 5/9 · last two fiscal years
✗ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✗ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 12.7 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$72
+45%
Analysts
4
Strong Buy
Range
$68–$78
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$80.0M$-4.6M$10.2M
2024$39.0M$-3.8M$943.0K
2023$31.6M$-936.0K$6.8M
2022$21.3M$-9.0M$4.8M
2021$21.8M$-2.0M$-4.7M
2020$39.0K$-28.0M$-22.4M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +55.5%.

Earnings

Next report: 2026-11-12 · during market · EPS est 0.37
24-1125-0325-0525-0825-1126-0326-0526-08-0.060.43
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-08-130.190.43+126.3%
2026-05-140.140.14–
2026-03-190.200.19-5.0%
2025-11-060.160.04-75.0%
2025-08-070.020.03+28.6%
2025-05-130.05-0.06-212.5%
2025-03-18–-0.03-800.9%
2024-11-12-0.010.02+300.0%
Insider trades
Krempa David
Chief Business Officer · 2026-10-06
Sell
$229.4K
Maier Paul V
Director · 2026-08-28
Sell
$7.9K
Maier Paul V
Director · 2026-08-28
Sell
$811.9K
Maier Paul V
Director · 2026-08-28
Sell
$2.1M
Krempa David
Chief Business Officer · 2026-08-24
Sell
$1.6M
Brynjelsen Sean
Director, President & CEO · 2026-08-20
Sell
$456.1K
Brynjelsen Sean
Director, President & CEO · 2026-08-20
Sell
$2.2M
Brynjelsen Sean
Director, President & CEO · 2026-08-20
Sell
$2.8M
Brynjelsen Sean
Director, President & CEO · 2026-08-19
Sell
$562.5K
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-21 18:16:06 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

Free. Not investment advice. Unsubscribe anytime.

coteau

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

Beta 0.9 · Oct 21, 2026