Otonomy, Inc. (OTIC) Expected to Announce Quarterly Sales of $250,000.00
Equities research analysts expect Otonomy, Inc. (NASDAQ:OTIC) to post sales of $250,000.00 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Otonomy’s earnings, with the lowest sales estimate coming in at $150,000.00 and the highest estimate coming in at $340,000.00. Otonomy posted sales of $270,000.00 during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.4%. The business is scheduled to issue its next earnings report on Thursday, March 1st.
According to Zacks, analysts expect that Otonomy will report full-year sales of $250,000.00 for the current financial year, with estimates ranging from $1.12 million to $2.20 million. For the next fiscal year, analysts forecast that the business will post sales of $8.03 million per share, with estimates ranging from $200,000.00 to $21.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Otonomy.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.15. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.43 million. Otonomy had a negative return on equity of 60.74% and a negative net margin of 7,899.03%. The company’s quarterly revenue was down 12.8% on a year-over-year basis.
A number of research firms recently weighed in on OTIC. Piper Jaffray Companies cut Otonomy from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $32.00 to $8.00 in a report on Wednesday, August 30th. J P Morgan Chase & Co cut Otonomy from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $8.00 in a report on Wednesday, August 30th. Cowen restated an “outperform” rating and issued a $55.00 price target on shares of Otonomy in a report on Wednesday, August 23rd. Zacks Investment Research upgraded Otonomy from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a report on Tuesday, November 14th. Finally, ValuEngine cut Otonomy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.15.
A number of large investors have recently made changes to their positions in OTIC. SG Americas Securities LLC acquired a new stake in Otonomy during the 2nd quarter valued at $115,000. Legal & General Group Plc lifted its stake in shares of Otonomy by 13.3% during the 2nd quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 746 shares during the period. Lakeview Capital Partners LLC purchased a new position in shares of Otonomy during the 3rd quarter worth $120,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Otonomy during the 3rd quarter worth $126,000. Finally, Voya Investment Management LLC lifted its stake in shares of Otonomy by 17.9% during the 2nd quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock worth $238,000 after purchasing an additional 1,918 shares during the period. Hedge funds and other institutional investors own 60.57% of the company’s stock.
Otonomy (OTIC) traded up $0.05 on Monday, hitting $5.05. The company had a trading volume of 1,325,400 shares, compared to its average volume of 805,992. Otonomy has a 1-year low of $2.80 and a 1-year high of $21.15.
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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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