Otonomy Inc (NASDAQ:OTIC) has earned a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.50.
A number of research firms have commented on OTIC. Zacks Investment Research downgraded Otonomy from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Cantor Fitzgerald assumed coverage on Otonomy in a report on Wednesday, November 14th. They issued an “overweight” rating and a $9.00 price target on the stock. Finally, ValuEngine raised Otonomy from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.
Shares of NASDAQ:OTIC traded down $0.02 on Friday, hitting $1.97. The company had a trading volume of 105,793 shares, compared to its average volume of 269,071. Otonomy has a 52-week low of $1.50 and a 52-week high of $6.45. The company has a market capitalization of $60.95 million, a P/E ratio of -0.66 and a beta of 2.59.
Otonomy (NASDAQ:OTIC) last posted its earnings results on Tuesday, November 6th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.06. Otonomy had a negative return on equity of 54.24% and a negative net margin of 6,983.40%. The business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.25 million. Sell-side analysts forecast that Otonomy will post -1.7 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of Otonomy during the 2nd quarter valued at $109,000. Laurion Capital Management LP acquired a new position in shares of Otonomy in the 2nd quarter worth $126,000. Paloma Partners Management Co acquired a new position in shares of Otonomy in the 2nd quarter worth $529,000. Millennium Management LLC grew its holdings in shares of Otonomy by 409.4% in the 2nd quarter. Millennium Management LLC now owns 596,329 shares of the biopharmaceutical company’s stock worth $2,296,000 after acquiring an additional 479,271 shares during the last quarter. Finally, 683 Capital Management LLC grew its holdings in shares of Otonomy by 23.1% in the 2nd quarter. 683 Capital Management LLC now owns 800,000 shares of the biopharmaceutical company’s stock worth $3,080,000 after acquiring an additional 150,000 shares during the last quarter. 61.66% of the stock is currently owned by hedge funds and other institutional investors.
Otonomy Company Profile
Otonomy, Inc, a biopharmaceutical company, engages in the development and commercialization of therapeutics for otology in the United States. It offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. The company also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; and OTO- 313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which has completed a Phase 1 clinical safety trial for the treatment of tinnitus.
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