Shares of Otonomy, Inc. (NASDAQ:OTIC) have earned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $31.50.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Otonomy from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Piper Jaffray Companies assumed coverage on shares of Otonomy in a report on Friday, June 2nd. They issued an “overweight” rating and a $32.00 price objective for the company. Cowen and Company reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Otonomy in a report on Wednesday, August 23rd. BidaskClub downgraded shares of Otonomy from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, J P Morgan Chase & Co downgraded shares of Otonomy from an “overweight” rating to a “neutral” rating and set a $8.00 price target for the company. in a report on Wednesday.

In related news, insider Eric J. Loumeau sold 3,522 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $18.59, for a total transaction of $65,473.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Otonomy during the second quarter valued at about $115,000. Legal & General Group Plc boosted its position in Otonomy by 13.3% in the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 746 shares during the last quarter. Trexquant Investment LP bought a new position in Otonomy during the first quarter valued at $123,000. Voya Investment Management LLC boosted its position in Otonomy by 17.9% in the second quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock valued at $238,000 after buying an additional 1,918 shares during the last quarter. Finally, American International Group Inc. boosted its position in Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 981 shares during the last quarter. 88.74% of the stock is owned by institutional investors and hedge funds.

Shares of Otonomy (OTIC) traded up 4.34% on Thursday, hitting $3.73. The stock had a trading volume of 4,834,242 shares. The firm has a 50 day moving average price of $18.78 and a 200 day moving average price of $15.30. Otonomy has a one year low of $3.65 and a one year high of $20.90. The company’s market capitalization is $113.03 million.

Otonomy (NASDAQ:OTIC) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.03. Otonomy had a negative net margin of 8,172.38% and a negative return on equity of 57.43%. The company had revenue of $0.33 million for the quarter, compared to analyst estimates of $0.43 million. During the same quarter in the prior year, the business posted ($0.98) EPS. The firm’s revenue was up 312.5% compared to the same quarter last year. On average, equities research analysts predict that Otonomy will post ($3.36) earnings per share for the current fiscal year.

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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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