Shares of Otonomy Inc (NASDAQ:OTIC) have been given an average rating of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.50.
Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Zacks Investment Research cut shares of Otonomy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Finally, SunTrust Banks dropped their target price on shares of Otonomy to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, August 14th.
Otonomy stock traded up $0.02 during midday trading on Thursday, hitting $2.95. 62,100 shares of the stock were exchanged, compared to its average volume of 313,501. Otonomy has a 52-week low of $2.80 and a 52-week high of $21.15. The stock has a market cap of $93.42 million, a PE ratio of -1.00 and a beta of 3.03.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.06). Otonomy had a negative return on equity of 56.60% and a negative net margin of 6,640.16%. The firm had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $0.30 million. equities analysts predict that Otonomy will post -1.77 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Otonomy by 0.9% in the first quarter. BlackRock Inc. now owns 2,070,337 shares of the biopharmaceutical company’s stock valued at $8,696,000 after acquiring an additional 18,721 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Otonomy by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,406,221 shares of the biopharmaceutical company’s stock valued at $5,414,000 after acquiring an additional 282,202 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Otonomy by 33.3% in the second quarter. Renaissance Technologies LLC now owns 1,354,800 shares of the biopharmaceutical company’s stock valued at $5,216,000 after acquiring an additional 338,100 shares during the last quarter. Millennium Management LLC boosted its stake in Otonomy by 409.4% in the second quarter. Millennium Management LLC now owns 596,329 shares of the biopharmaceutical company’s stock valued at $2,296,000 after acquiring an additional 479,271 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Otonomy by 625.3% in the fourth quarter. Deutsche Bank AG now owns 351,180 shares of the biopharmaceutical company’s stock valued at $1,947,000 after acquiring an additional 302,761 shares during the last quarter. Hedge funds and other institutional investors own 66.08% of the company’s stock.
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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