5 High Growth Penny Stocks That Are Profitable

3. Eton Pharmaceuticals, Inc. (NASDAQ:ETON)

Latest YoY Quarterly Revenue Growth: 118.33%

Number of Hedge Fund Holders: 4

Deer Park, Illinois-based Eton Pharmaceuticals, Inc. (NASDAQ:ETON) is a commercial pharmaceutical company focused on developing, acquiring, and commercializing high-potential therapies for the treatment of patients with rare diseases.

On November 9, Eton Pharmaceuticals, Inc. (NASDAQ:ETON) released its financial results for Q3 2023. Its revenues increased by 118% y-o-y to $7.0 million, while it generated a net loss of $0.6 million. The normalized EPS was recorded at -$0.02 for the quarter, which exceeded consensus estimates by $0.08.

Following the earnings release, HC Wainwright & Co. analyst Raghuram Selvaraju reiterated a ‘Buy’ rating for Eton Pharmaceuticals, Inc. (NASDAQ:ETON) shares with an unchanged price target of $10 per share which represents a potential upside of 117.86% based on the share price on February 7.