Otonomy Target of Unusually Large Options Trading (OTIC)
Otonomy, Inc. (NASDAQ:OTIC) was the target of unusually large options trading activity on Friday. Traders acquired 5,589 call options on the stock. This is an increase of approximately Infinity compared to the typical volume of 0 call options.
Several equities research analysts recently weighed in on OTIC shares. Zacks Investment Research raised shares of Otonomy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of Otonomy from a “buy” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co raised shares of Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 target price for the company in a report on Tuesday, August 15th. Cowen and Company reissued an “outperform” rating and issued a $55.00 target price on shares of Otonomy in a report on Wednesday, August 23rd. Finally, Piper Jaffray Companies cut shares of Otonomy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $8.00 in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.00.
Otonomy (NASDAQ OTIC) opened at $5.17 on Monday. Otonomy has a fifty-two week low of $2.80 and a fifty-two week high of $21.15.
Otonomy (NASDAQ:OTIC) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.15. The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.43 million. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. sell-side analysts anticipate that Otonomy will post -3 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Otonomy by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,004,584 shares of the biopharmaceutical company’s stock worth $12,306,000 after acquiring an additional 81,050 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Otonomy by 8.7% in the second quarter. Alliancebernstein L.P. now owns 672,876 shares of the biopharmaceutical company’s stock valued at $12,684,000 after buying an additional 54,080 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Otonomy by 72.0% in the third quarter. Bank of New York Mellon Corp now owns 596,784 shares of the biopharmaceutical company’s stock valued at $1,939,000 after buying an additional 249,845 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Otonomy by 10,065.2% in the second quarter. JPMorgan Chase & Co. now owns 517,410 shares of the biopharmaceutical company’s stock valued at $9,753,000 after buying an additional 512,320 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Otonomy by 31.1% in the second quarter. Dimensional Fund Advisors LP now owns 407,799 shares of the biopharmaceutical company’s stock valued at $7,687,000 after buying an additional 96,630 shares during the period. 89.03% of the stock is owned by hedge funds and other institutional investors.
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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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