Otonomy (NASDAQ:OTIC) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.06, Morningstar.com reports. Otonomy had a negative net margin of 6,640.16% and a negative return on equity of 56.60%.
Shares of OTIC opened at $2.48 on Tuesday. Otonomy has a 1-year low of $2.16 and a 1-year high of $6.45.
Several equities research analysts recently issued reports on OTIC shares. Zacks Investment Research cut shares of Otonomy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. SunTrust Banks cut their price objective on shares of Otonomy to $10.00 and set a “buy” rating for the company in a research report on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.58.
Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Otonomy by 33.3% during 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. 683 Capital Management LLC increased its position in shares of Otonomy by 23.1% during the second quarter. 683 Capital Management LLC now owns 800,000 shares of the biopharmaceutical company’s stock valued at $3,080,000 after acquiring an additional 150,000 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Otonomy during the second quarter valued at about $529,000. Laurion Capital Management LP acquired a new stake in shares of Otonomy during the second quarter valued at about $126,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Otonomy by 28.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,124,019 shares of the biopharmaceutical company’s stock valued at $4,721,000 after acquiring an additional 246,805 shares during the last quarter. Institutional investors and hedge funds own 61.95% of the company’s stock.
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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