The firm's positive outlook is also based on Eton's consistent year-over-year revenue growth, with current revenues at $34.68 million and an impressive gross margin of 59.3%. H.C. Wainwright forecasts a 20% increase in Eton's revenue to $38.1 million for the year 2024, with a substantial jump of 170% to an estimated $102.7 million in 2025. Discover more detailed financial metrics and 12 additional ProTips for ETON through a comprehensive Pro Research Report, available exclusively on InvestingPro. Currently, Eton boasts 6 commercial products and 5 late-stage pipeline candidates, an increase from 5 commercial products and 3 late-stage candidates in the second quarter of 2024.
Eton is anticipated to expand its commercial product lineup to 7, along with 4 late-stage pipeline candidates by mid-2025. Specifically, ET-400, a late-stage candidate, is expected to receive a decision from the FDA by February 28. Moreover, Eton's management is planning to augment its portfolio further through the acquisition of one or more commercial products this year.
The firm's positive outlook is also based on Eton's consistent year-over-year revenue growth, with current revenues at $34.68 million and an impressive gross margin of 59.3%. H.C. Wainwright forecasts a 20% increase in Eton's revenue to $38.1 million for the year 2024, with a substantial jump of 170% to an estimated $102.7 million in 2025. Discover more detailed financial metrics and 12 additional ProTips for ETON through a comprehensive Pro Research Report, available exclusively on InvestingPro. This expected surge in revenue is attributed to Eton's recent acquisitions of commercial products and the anticipated launch of its late-stage candidates into the market. The firm reiterated its Buy rating and adjusted the price target to reflect these projections.
In other recent news, Eton Pharmaceuticals (NASDAQ:ETON) continues to make noteworthy strides in the pharmaceutical industry. Analysts from B.Riley have initiated coverage on Eton Pharmaceuticals with a Buy rating, based on optimism surrounding Increlex and ET-400. The firm anticipates a revenue inflection point for Eton in 2025, potentially leading to profitability and growing positive cash flow.
Meanwhile, H.C. Wainwright has adjusted its outlook on Eton, raising the price target and maintaining a Buy rating. This follows Eton's acquisition of Galzin, an FDA-approved treatment for Wilson Disease, and the U.S. rights to Amglidia, a treatment for neonatal diabetes mellitus. Both acquisitions are expected to contribute to long-term growth.
Eton has also reported its 15th consecutive quarter of growth, recently posting its first positive GAAP net income quarter. The company's growth strategy, which includes acquiring under-invested products and developing late-stage candidates through lower-risk approval routes, has been recognized for its efficiency.
Finally, Eton Pharmaceuticals has disclosed plans to expand its rare disease portfolio, targeting 10 commercial products and $100 million in revenue. Despite anticipated rises in expenses due to an expanded sales force and investments in infrastructure, the company maintains a strong cash balance. These developments demonstrate Eton's commitment to continued growth and innovation in the pharmaceutical sector.
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