Brokerages expect that Otonomy, Inc. (NASDAQ:OTIC) will announce sales of $450,000.00 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Otonomy’s earnings. The lowest sales estimate is $400,000.00 and the highest is $500,000.00. Otonomy posted sales of $320,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 40.6%. The company is expected to announce its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Otonomy will report full-year sales of $450,000.00 for the current financial year, with estimates ranging from $1.54 million to $2.30 million. For the next year, analysts expect that the firm will report sales of $5.51 million per share, with estimates ranging from $5.20 million to $5.81 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Otonomy.

Otonomy (NASDAQ:OTIC) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.03. The firm had revenue of $0.33 million for the quarter, compared to analyst estimates of $0.43 million. Otonomy had a negative return on equity of 57.43% and a negative net margin of 8,172.38%. The business’s quarterly revenue was up 312.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.98) EPS.

A number of research firms have recently weighed in on OTIC. Piper Jaffray Companies restated an “overweight” rating and issued a $32.00 target price on shares of Otonomy in a report on Friday, June 30th. ValuEngine lowered Otonomy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Otonomy from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. J P Morgan Chase & Co lowered Otonomy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $28.00 to $8.00 in a report on Wednesday, August 30th. Finally, Cowen and Company restated an “outperform” rating and issued a $55.00 target price on shares of Otonomy in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.00.

In related news, insider Eric J. Loumeau sold 3,522 shares of Otonomy stock in a transaction on Monday, June 26th. The stock was sold at an average price of $18.59, for a total transaction of $65,473.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Otonomy in the second quarter worth $115,000. Legal & General Group Plc increased its position in Otonomy by 13.3% in the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 746 shares during the last quarter. Trexquant Investment LP purchased a new stake in Otonomy in the first quarter worth $123,000. Voya Investment Management LLC increased its position in Otonomy by 17.9% in the second quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 1,918 shares during the last quarter. Finally, American International Group Inc. increased 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. 88.74% of the stock is owned by institutional investors and hedge funds.

Otonomy (NASDAQ:OTIC) opened at 3.47 on Friday. The firm’s 50 day moving average price is $13.98 and its 200 day moving average price is $14.46. The firm’s market cap is $105.30 million. Otonomy has a 52-week low of $3.15 and a 52-week high of $21.15.

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About Otonomy

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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