Zacks Investment Research lowered shares of Otonomy (NASDAQ:OTIC) from a hold rating to a sell rating in a research report released on Wednesday.

According to Zacks, “Otonomy, Inc. engages in developing and commercializing therapeutics to address unmet medical needs in the otology market. It develops therapeutics for treatment of inner and middle ear disorders. The Company’s product candidates under development includes AuriPro to treat pediatric patients with middle ear effusion; and OTO-104 for the treatment of patients with Ménière’s disease. Otonomy, Inc. is headquartered in San Diego, California. “

Separately, Piper Jaffray Companies restated a hold rating and set a $8.00 price objective on shares of Otonomy in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $9.15.

Shares of Otonomy (NASDAQ:OTIC) remained flat at $$5.70 during mid-day trading on Wednesday. The company’s stock had a trading volume of 167,664 shares, compared to its average volume of 337,817. Otonomy has a twelve month low of $2.80 and a twelve month high of $21.15. The firm has a market capitalization of $175.96, a P/E ratio of -1.76 and a beta of 3.33.

Otonomy (NASDAQ:OTIC) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.15. Otonomy had a negative return on equity of 60.74% and a negative net margin of 7,899.03%. The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.43 million. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. research analysts predict that Otonomy will post -2.88 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of OTIC. JPMorgan Chase & Co. increased its holdings 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in Otonomy by 72.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 596,784 shares of the biopharmaceutical company’s stock worth $1,939,000 after purchasing an additional 249,845 shares in the last quarter. Alpine Associates Management Inc. acquired a new position in Otonomy in the 3rd quarter worth about $797,000. Schwab Charles Investment Management Inc. acquired a new position in Otonomy in the 4th quarter worth about $616,000. Finally, Dimensional Fund Advisors LP increased its holdings in Otonomy by 31.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 407,799 shares of the biopharmaceutical company’s stock worth $7,687,000 after purchasing an additional 96,630 shares in the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

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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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