Otonomy Inc. to Post FY2020 Earnings of $5.44 Per Share, SunTrust Banks Forecasts (OTIC)
Otonomy Inc. (NASDAQ:OTIC) – SunTrust Banks cut their FY2020 earnings estimates for shares of Otonomy in a research report issued on Sunday. SunTrust Banks analyst E. Nash now expects that the firm will earn $5.44 per share for the year, down from their prior forecast of $5.73.
Several other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Otonomy from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Piper Jaffray Cos. restated an “overweight” rating and set a $32.00 price target on shares of Otonomy in a report on Monday, August 15th.
Shares of Otonomy (NASDAQ:OTIC) traded down 0.87% on Tuesday, hitting $17.00. The company’s stock had a trading volume of 94,539 shares. The stock’s 50 day moving average price is $17.53 and its 200 day moving average price is $15.72. The stock’s market capitalization is $512.86 million. Otonomy has a 52 week low of $10.50 and a 52 week high of $31.15.
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A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its position in shares of Otonomy by 8.6% in the second quarter. Jennison Associates LLC now owns 3,876,468 shares of the biopharmaceutical company’s stock worth $61,558,000 after buying an additional 306,723 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Otonomy by 16.4% in the second quarter. BlackRock Fund Advisors now owns 1,009,180 shares of the biopharmaceutical company’s stock worth $16,026,000 after buying an additional 142,265 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Otonomy by 7.3% in the second quarter. Vanguard Group Inc. now owns 836,678 shares of the biopharmaceutical company’s stock worth $13,286,000 after buying an additional 56,789 shares during the last quarter. FMR LLC boosted its position in shares of Otonomy by 7.0% in the second quarter. FMR LLC now owns 730,029 shares of the biopharmaceutical company’s stock worth $11,593,000 after buying an additional 48,029 shares during the last quarter. Finally, Amici Capital LLC boosted its position in shares of Otonomy by 1,212.9% in the first quarter. Amici Capital LLC now owns 695,061 shares of the biopharmaceutical company’s stock worth $10,370,000 after buying an additional 642,120 shares during the last quarter. 87.13% of the stock is currently owned by hedge funds and other 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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