Otonomy, Inc. (NASDAQ:OTIC)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a research note issued to investors on Wednesday. They currently have a $55.00 target price on the biopharmaceutical company’s stock. Cowen and Company’s price target suggests a potential upside of 170.27% from the company’s current price.

A number of other equities research analysts have also weighed in on OTIC. Zacks Investment Research raised Otonomy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. BidaskClub lowered Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. J P Morgan Chase & Co raised Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 target price for the company in a research note on Tuesday, August 15th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $32.00 target price on shares of Otonomy in a research note on Friday, June 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.50.

Shares of Otonomy (NASDAQ OTIC) traded down 0.25% during mid-day trading on Wednesday, reaching $20.30. The company had a trading volume of 141,446 shares. The firm’s 50-day moving average price is $18.62 and its 200 day moving average price is $15.14. The company’s market cap is $615.15 million. Otonomy has a 52-week low of $11.30 and a 52-week high of $20.65.

Otonomy (NASDAQ:OTIC) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.03. Otonomy had a negative return on equity of 57.43% and a negative net margin of 8,172.38%. The company had revenue of $0.33 million during the quarter, compared to analyst estimates of $0.43 million. During the same quarter in the previous year, the company posted ($0.98) EPS. Otonomy’s revenue for the quarter was up 312.5% on a year-over-year basis. Equities analysts expect that Otonomy will post ($3.36) EPS for the current year.

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In other Otonomy news, insider Eric J. Loumeau sold 3,522 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $18.59, for a total transaction of $65,473.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Otonomy by 10.6% in the first quarter. Geode Capital Management LLC now owns 207,439 shares of the biopharmaceutical company’s stock worth $2,541,000 after buying an additional 19,804 shares during the last quarter. Vanguard Group Inc. raised its position in Otonomy by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,004,584 shares of the biopharmaceutical company’s stock worth $12,306,000 after buying an additional 81,050 shares during the last quarter. Wellington Management Group LLP raised its position in Otonomy by 28.9% in the first quarter. Wellington Management Group LLP now owns 4,211,357 shares of the biopharmaceutical company’s stock worth $51,590,000 after buying an additional 944,663 shares during the last quarter. American International Group Inc. raised its position in Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 981 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Otonomy by 37.5% in the first quarter. Schroder Investment Management Group now owns 763,368 shares of the biopharmaceutical company’s stock worth $9,351,000 after buying an additional 208,221 shares during the last quarter. 88.46% of the stock is owned by institutional investors and hedge funds.

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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