Otonomy, Inc. (NASDAQ:OTIC) Receives Average Rating of “Buy” from Analysts

Shares of Otonomy, Inc. (NASDAQ:OTIC) have been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.00.

Several research analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Otonomy in a research note on Sunday, November 22nd. They set a “buy” rating and a $11.00 price objective for the company. Zacks Investment Research lowered shares of Otonomy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 11th. HC Wainwright boosted their price objective on shares of Otonomy from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, December 18th. Finally, BidaskClub upgraded shares of Otonomy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 22nd.

NASDAQ:OTIC opened at $6.47 on Friday. Otonomy has a one year low of $1.53 and a one year high of $6.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.76 and a current ratio of 3.76. The firm has a market cap of $312.04 million, a P/E ratio of -4.49 and a beta of 2.17. The firm has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $4.09.

Otonomy (NASDAQ:OTIC) last posted its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.03. Otonomy had a negative net margin of 11,386.86% and a negative return on equity of 125.30%. The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.11 million. On average, research analysts predict that Otonomy will post -1.19 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV grew its position in Otonomy by 3.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 171,447 shares of the biopharmaceutical company’s stock worth $694,000 after purchasing an additional 5,000 shares during the last quarter. Point72 Asset Management L.P. grew its position in Otonomy by 387.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 974,259 shares of the biopharmaceutical company’s stock worth $3,527,000 after purchasing an additional 774,259 shares during the last quarter. Gyon Technologies Capital Management LP grew its position in Otonomy by 80.9% during the 3rd quarter. Gyon Technologies Capital Management LP now owns 30,232 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 13,522 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Otonomy by 91.1% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 57,825 shares of the biopharmaceutical company’s stock worth $209,000 after purchasing an additional 27,562 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in Otonomy by 503.4% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 169,971 shares of the biopharmaceutical company’s stock worth $616,000 after purchasing an additional 141,800 shares during the last quarter. 38.98% of the stock is currently owned by institutional investors.

Otonomy Company Profile

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a sustained-exposure formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

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