ETON · Eton Pharmaceuticals, Inc.
$50.57
-0.92 (-1.80%)
At close · Oct 1
Return incl. dividend (before tax)
Market Cap
$1.65B
Shares
28.58M
Volume · Oct 1
225.28K
Avg daily vol (3M)
581.3K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$51.49
Open$59.61
Day$48.79–59.66
52W close$14.35–64.43
Avg vol 30d560K
Short int1.5M · 5.4% float · 3.5d
Short vol58%
Last earningsAug 13, 2026
DataJan 2020–Sep 2026
Filing10-Q · Aug 13
Up next
Next earnings call
Nov 12, 2026
Est · unconfirmed
· in 6 wks
filed Aug 13, 2026
call held Aug 13, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$105.59M
Trailing 12 months
Net income (TTM)
$12.69M
Trailing 12 months
Revenue growth YoY
+98.6%
Year over year
Operating margin
15.4%
Trailing 12 months
P / E (TTM)
129.9
Trailing earnings · reciprocal yield 0.8%
FCF yield
—
TTM · current market cap
Return on invested capital
34.1%
Trailing 12 months
Net cash
−$1.06M
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+21.9%
Year over year · more shares
Price change (1Y)
+163.3%
Trailing year
Short interest
5.4%
Latest settlement · 3.5 days to cover
AI Brief
Q2 FY26 earnings call · Aug 13, 2026
Q2 FY26
TL;DR. Eton Pharmaceuticals posted record Q2 revenue of $37.6 million (+99% YoY) with adjusted EBITDA margin reaching 43%, raised 2026 revenue guidance to exceed $145 million (from >$120M) and adjusted EBITDA margin guidance to at least 35% (from >30%), completed the Hemangeol relaunch and patient conversion ahead of schedule, and added late-stage candidate ASN-001 plus U.S. rights to Impavido.
Bullish
- + Adjusted EBITDA margin expanded to 43% from 16% a year ago
- + Raised full-year 2026 revenue guidance to exceed $145M from >$120M
- + Raised full-year adjusted EBITDA margin guidance to at least 35% from >30%
Bearish
- − Adjusted gross margin declined to 73% from 75% due to negative-margin ex-U.S. Increlex sales
- − $3M ASN-001 upfront licensing payment will be expensed as R&D in Q3 2026, pressuring near-term R&D spend
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Neutral
SellHoldBuy
Technical
Neutral
Momentum
Strong
Sentiment
Neutral
Fundamentals
Excellent
Quant / Vol
Very High
Market backdrop
VIX 16.3 · calm
Equity put/call 0.53
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
+62%
above
Price vs 50-day avg
−5%
below
RSI (14)
40
neutral
MACD trend
Negative
52-week position
74%
mid-range
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−15%
trailing
6-month return
+90%
trailing
YTD return
+204%
this year
Relative strength
+78%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $54 › 200d $32 — 50d above 200d
Institutional flow
Accumulating
+41% holders QoQ · +54 funds added
Insider flow
Distributing
Net -$13.1M over 90 days · 100% sells
Short interest
Rising
5.40% of float · ▲ +14.5% MoM · 3.5 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr high
164 holders — near 3-yr high, broad support
Squeeze score
72
high risk · 0–100
Fundamentals
Revenue growth
+105%
Y/Y
Gross margin
53%
contracting
Free cash flow
$10.2M
Balance sheet
$4.6M
net debt
Quant / Vol
risk profile
Volatility
72%
annualized · 1-yr
Max drawdown
−34%
past year
ATR
6.9%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Aug 13, 2026
Full year revenue
· full year 2026
Initiated
at least $145M
prior FY $79.95M
midpoint +81.4% Y/Y
Adjusted EBITDA margin
· full year 2026
Non-GAAP
Initiated
at least 35%
Adjusted gross margin
· full year 2026
Non-GAAP
Initiated
at least 70%
R&D spending
· full year 2026
Initiated
$10M – $14M
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Neutral
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
+62%
Bullish
Price vs 50-day avg
−5%
Bearish
RSI (14)
40
Neutral
MACD trend
Negative
Bearish
52-week position
74%
Neutral
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $54 › 200d $32 — 50d above 200d
Institutional flow
Accumulating
+41% holders QoQ · +54 funds added
Insider flow
Distributing
Net -$13.1M over 90 days · 100% sells
Short interest
Rising
5.40% of float · ▲ +14.5% MoM · 3.5 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr high
164 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $14
Now $51 · 74%
Range high $64
vs 200-day avg +62%
vs 50-day avg -5%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $16.2M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP EBITDA $14.12M
+$650K Inventory step-up expense (3)
+$1.47M Stock-based compensation (4)
+$0K Severance expense (5)
+$0K Acquisition/divestiture-related costs (6)
= Adjusted EBITDA $16.24M
|
|||
| EBITDA | $14.1M | the second quarter of 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP Net income (loss) $11.58M
+$22K Depreciation (1)
+$1.36M Intangible amortization expense (2)
+$1.01M Interest expense (including debt discount amortization and non-cash interest expenses)
+$140K Income tax expense
= EBITDA $14.12M
|
|||
| Non-GAAP earnings per share - Basic non-GAAP | $0.69 | the six months ended June 30, 2026 | — |
| Non-GAAP earnings per share - Diluted non-GAAP | $0.59 | the six months ended June 30, 2026 | — |
| Non-GAAP income per share - Basic non-GAAP | $0.52 | the three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP GAAP income (loss) per share - Basic $0.42
+$0.1 Non-GAAP adjustments
= Non-GAAP income per share - Basic $0.52
|
|||
| Non-GAAP income per share - Diluted non-GAAP | $0.43 | the three months ended June 30, 2026 filing | — |
GAAP → non-GAAP reconciliationGAAP GAAP income (loss) per share - Diluted $0.35
+$0.08 Non-GAAP adjustments
= Non-GAAP income per share - Diluted $0.43
|
|||
| Non-GAAP Net income non-GAAP | $14.3M | the second quarter of 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Drug Manufacturers - Specialty & Generic — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ETON
this stock
Eton Pharmaceuticals, Inc.
|
$1.65B | +204.5% | +104.9% | — | 5.4% |
|
TAK
Takeda Pharmaceutical Co Ltd
|
$60.23B | +16.7% | — | — | 0.1% |
|
GALDY
Galderma Group AG/ADR
|
$46.00B | -4.5% | — | — | 0.0% |
|
TEVA
Teva Pharmaceutical Industries Ltd
|
$45.67B | +26.9% | +4.3% | 64.3 | 2.7% |
|
HLN
Haleon plc
|
$40.72B | -11.0% | — | — | 0.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Earnings & Events
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ETON | -7.4% | -14.8% | +90.0% | -14.8% | +204.5% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -6.7% | -14.9% | +77.8% | -14.2% | +192.7% |