Shares of Otonomy, Inc. (NASDAQ:OTIC) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.00.
A number of research analysts have recently issued reports on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $8.00 target price on shares of Otonomy in a research note on Friday. ValuEngine cut shares of Otonomy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Cowen and Company reiterated an “outperform” rating and issued a $9.00 target price (down previously from $55.00) on shares of Otonomy in a research note on Thursday, August 31st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $15.00 target price (down previously from $45.00) on shares of Otonomy in a research note on Thursday, August 31st. Finally, J P Morgan Chase & Co cut shares of Otonomy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $28.00 to $8.00 in a research note on Wednesday, August 30th.
Hedge funds have recently bought and sold shares of the stock. TD Asset Management Inc. bought a new position in Otonomy in the 2nd quarter worth approximately $624,000. Dimensional Fund Advisors LP raised its position in Otonomy by 47.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 311,169 shares of the biopharmaceutical company’s stock worth $3,812,000 after purchasing an additional 100,059 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Otonomy by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 114,786 shares of the biopharmaceutical company’s stock worth $1,407,000 after purchasing an additional 6,798 shares during the last quarter. JPMorgan Chase & Co. raised its position in Otonomy by 10,065.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 517,410 shares of the biopharmaceutical company’s stock worth $9,753,000 after purchasing an additional 512,320 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Otonomy by 8.7% in the 2nd quarter. Alliancebernstein L.P. now owns 672,876 shares of the biopharmaceutical company’s stock worth $12,684,000 after purchasing an additional 54,080 shares during the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.
Otonomy (NASDAQ OTIC) opened at $5.20 on Tuesday. Otonomy has a one year low of $2.80 and a one year high of $21.15.
Otonomy (NASDAQ:OTIC) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $0.43 million. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. equities analysts forecast that Otonomy will post -3 earnings per share for the current fiscal year.
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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