Otonomy Inc (NASDAQ:OTIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Otonomy, Inc. engages in developing and commercializing therapeutics to address unmet medical needs in the otology market. It develops therapeutics for treatment of inner and middle ear disorders. The Company’s product candidates under development includes AuriPro to treat pediatric patients with middle ear effusion; and OTO-104 for the treatment of patients with Ménière’s disease. Otonomy, Inc. is headquartered in San Diego, California. “

Otonomy (NASDAQ:OTIC) traded up 1.09% on Wednesday, reaching $13.85. 108,085 shares of the company’s stock traded hands. The firm’s 50-day moving average is $13.08 and its 200 day moving average is $14.88. The stock’s market capitalization is $419.05 million. Otonomy has a 52-week low of $11.30 and a 52-week high of $19.38.

Otonomy (NASDAQ:OTIC) last announced its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by $0.05. The company had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.50 million. Analysts forecast that Otonomy will post ($3.37) EPS for the current year.

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Several large investors have recently made changes to their positions in the company. Trexquant Investment LP bought a new stake in Otonomy during the first quarter valued at $123,000. American International Group Inc. boosted its stake in Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 981 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Otonomy by 74.4% in the third quarter. Wells Fargo & Company MN now owns 10,808 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 4,610 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Otonomy during the first quarter valued at $216,000. Finally, Rothschild Asset Management Inc. boosted its stake in Otonomy by 2.5% in the third quarter. Rothschild Asset Management Inc. now owns 16,062 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.

Otonomy Company Profile

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’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.

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