Otonomy, Inc. (NASDAQ:OTIC)‘s stock had its “overweight” rating restated by research analysts at Piper Jaffray Companies in a report released on Friday. They currently have a $32.00 price objective on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 69.76% from the company’s previous close.

Separately, Zacks Investment Research cut shares of Otonomy from a “hold” rating to a “sell” rating in a report on Wednesday, May 17th.

Otonomy (NASDAQ OTIC) traded up 1.89% during midday trading on Friday, hitting $18.85. 184,582 shares of the stock were exchanged. The stock’s market cap is $570.33 million. Otonomy has a 52 week low of $11.30 and a 52 week high of $19.38. The firm’s 50-day moving average is $14.57 and its 200 day moving average is $14.45.

Otonomy (NASDAQ:OTIC) last posted its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by $0.05. The company had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.50 million. Otonomy had a negative net margin of 10,787.74% and a negative return on equity of 54.31%. Equities research analysts expect that Otonomy will post ($3.38) EPS for the current fiscal year.

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In related news, insider Eric J. Loumeau sold 3,522 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $18.59, for a total transaction of $65,473.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 17.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of Otonomy by 26.6% in the first quarter. BlackRock Fund Advisors now owns 866,915 shares of the biopharmaceutical company’s stock worth $12,934,000 after buying an additional 181,910 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Otonomy by 12.8% in the first quarter. TIAA CREF Investment Management LLC now owns 55,354 shares of the biopharmaceutical company’s stock worth $826,000 after buying an additional 6,260 shares during the last quarter. Verde Servicos Internacionais S.A. acquired a new stake in shares of Otonomy during the first quarter worth $1,272,000. Clough Capital Partners L P boosted its stake in shares of Otonomy by 4.0% in the fourth quarter. Clough Capital Partners L P now owns 280,403 shares of the biopharmaceutical company’s stock worth $7,781,000 after buying an additional 10,900 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Otonomy by 31.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 111,715 shares of the biopharmaceutical company’s stock worth $3,100,000 after buying an additional 26,597 shares during the last quarter. Hedge funds and other institutional investors own 89.00% 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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