Otonomy (OTIC) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Share on StockTwits

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.

WARNING: “Otonomy (OTIC) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS” was published by Macon Daily and is owned by of Macon Daily. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this news story can be accessed at https://macondaily.com/2018/11/06/otonomy-otic-announces-quarterly-earnings-results-beats-expectations-by-0-06-eps.html.

About Otonomy

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.

Featured Story: Return on Investment (ROI) Defined, Explained

Earnings History for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply