Otonomy Inc (OTIC) Given Average Rating of “Hold” by Brokerages

Otonomy Inc (NASDAQ:OTIC) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.00.

A number of research analysts recently commented on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $8.00 price target on shares of Otonomy in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Otonomy from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research note on Tuesday, November 14th.

A number of institutional investors and hedge funds have recently made changes to their positions in OTIC. Legal & General Group Plc grew its stake in Otonomy by 13.3% in the 2nd quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 746 shares during the last quarter. Lakeview Capital Partners LLC acquired a new position in Otonomy in the 3rd quarter valued at about $120,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Otonomy in the 3rd quarter valued at about $126,000. Acadian Asset Management LLC grew its stake in Otonomy by 722.6% in the 4th quarter. Acadian Asset Management LLC now owns 35,996 shares of the biopharmaceutical company’s stock valued at $200,000 after buying an additional 31,620 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in Otonomy by 17.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock valued at $238,000 after buying an additional 1,918 shares during the last quarter. Institutional investors and hedge funds own 60.60% of the company’s stock.

Shares of Otonomy (NASDAQ OTIC) opened at $5.85 on Friday. The stock has a market cap of $178.99, a PE ratio of -1.81 and a beta of 3.33. Otonomy has a fifty-two week low of $2.80 and a fifty-two week high of $21.15.

Otonomy (NASDAQ:OTIC) last issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.15. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.43 million. The firm’s revenue was down 12.8% on a year-over-year basis. equities analysts predict that Otonomy will post -2.88 EPS for the current year.

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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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