SunTrust Banks Weighs in on Otonomy Inc.’s FY2020 Earnings (OTIC)
Otonomy Inc. (NASDAQ:OTIC) – Analysts at SunTrust Banks lowered their FY2020 EPS estimates for shares of Otonomy in a research note issued on Sunday. SunTrust Banks analyst E. Nash now expects that the firm will post earnings per share of $5.44 for the year, down from their previous estimate of $5.73.
Several other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Piper Jaffray Cos. restated an “overweight” rating and set a $32.00 price target on shares of Otonomy in a research note on Monday, August 15th.
Shares of Otonomy (NASDAQ:OTIC) traded down 3.81% during mid-day trading on Tuesday, reaching $17.65. 138,858 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $17.53 and its 200 day moving average price is $15.69. The company’s market cap is $532.47 million. Otonomy has a 52-week low of $10.50 and a 52-week high of $31.15.
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Institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of Otonomy during the second quarter worth $153,000. American International Group Inc. increased its position in shares of Otonomy by 59.9% in the second quarter. American International Group Inc. now owns 13,835 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 5,183 shares during the period. Rothschild Asset Management Inc. bought a new position in shares of Otonomy during the second quarter worth $249,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Otonomy during the first quarter worth $266,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Otonomy by 63.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,192 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 7,034 shares during the period. 87.13% of the stock is currently owned by institutional investors.
Otonomy, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Company has developed a technology referred to as sustained-exposure that is designed to deliver drug that is retained in the ear for an extended period of time following a local administration.
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