Otonomy Inc (NASDAQ:OTIC) has earned an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.50.
OTIC has been the subject of a number of research reports. Zacks Investment Research cut Otonomy from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded Otonomy from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Cantor Fitzgerald initiated coverage on Otonomy in a report on Wednesday, November 14th. They set an “overweight” rating and a $9.00 target price for the company.
Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Otonomy during the 2nd quarter worth about $109,000. Laurion Capital Management LP acquired a new position in shares of Otonomy during the 2nd quarter worth about $126,000. Paloma Partners Management Co acquired a new position in shares of Otonomy during the 2nd quarter worth about $529,000. Millennium Management LLC lifted its stake in Otonomy by 409.4% in the 2nd quarter. Millennium Management LLC now owns 596,329 shares of the biopharmaceutical company’s stock valued at $2,296,000 after purchasing an additional 479,271 shares during the last quarter. Finally, 683 Capital Management LLC lifted its stake in Otonomy by 23.1% in the 2nd quarter. 683 Capital Management LLC now owns 800,000 shares of the biopharmaceutical company’s stock valued at $3,080,000 after purchasing an additional 150,000 shares during the last quarter. Institutional investors own 61.66% of the company’s stock.
Shares of Otonomy stock traded down $0.02 on Friday, hitting $1.97. 105,793 shares of the company’s stock traded hands, compared to its average volume of 269,071. The stock has a market capitalization of $60.95 million, a price-to-earnings ratio of -0.66 and a beta of 2.59. Otonomy has a one year low of $1.50 and a one year high of $6.45.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.06. Otonomy had a negative net margin of 6,983.40% and a negative return on equity of 54.24%. The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.25 million. On average, research analysts forecast that Otonomy will post -1.7 earnings per share for the current fiscal year.
Otonomy Company Profile
Otonomy, Inc, a biopharmaceutical company, engages in the development and commercialization of therapeutics for otology in the United States. It offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. The company also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; and OTO- 313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which has completed a Phase 1 clinical safety trial for the treatment of tinnitus.
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