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.

WARNING: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.watchlistnews.com/otonomy-inc-otic-expected-to-announce-quarterly-sales-of-250000-00/1771615.html.

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.

Get a free copy of the Zacks research report on Otonomy (OTIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with Analyst Ratings Network's FREE daily email newsletter.