Otonomy, Inc. (NASDAQ:OTIC) – Analysts at SunTrust Banks increased their FY2017 earnings per share estimates for Otonomy in a research report issued on Thursday. SunTrust Banks analyst E. Nash now forecasts that the biopharmaceutical company will post earnings per share of ($3.10) for the year, up from their prior forecast of ($3.38). SunTrust Banks currently has a “Buy” rating and a $15.00 target price on the stock. SunTrust Banks also issued estimates for Otonomy’s Q4 2017 earnings at ($0.74) EPS, Q1 2018 earnings at ($0.74) EPS, Q2 2018 earnings at ($0.78) EPS, Q3 2018 earnings at ($0.81) EPS, Q4 2018 earnings at ($0.81) EPS, FY2018 earnings at ($3.13) EPS, FY2019 earnings at ($3.03) EPS and FY2020 earnings at ($1.97) EPS.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.15. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.43 million. Otonomy’s quarterly revenue was down 12.8% compared to the same quarter last year.
A number of other equities research analysts have also weighed in on OTIC. Zacks Investment Research raised shares of Otonomy from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub lowered 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 price objective on the stock in a report on Tuesday, August 15th. Cowen and Company reissued an “outperform” rating and set a $55.00 price objective on shares of Otonomy in a report on Wednesday, August 23rd. Finally, Piper Jaffray Companies lowered shares of Otonomy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $8.00 in a report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Otonomy has a consensus rating of “Hold” and an average price target of $10.00.
Otonomy (OTIC) opened at $5.17 on Monday. Otonomy has a 1-year low of $2.80 and a 1-year high of $21.15.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Otonomy by 8.8% during the first quarter. Vanguard Group Inc. now owns 1,004,584 shares of the biopharmaceutical company’s stock valued at $12,306,000 after buying an additional 81,050 shares during the last quarter. Alliancebernstein L.P. lifted its position in Otonomy by 8.7% during the second quarter. Alliancebernstein L.P. now owns 672,876 shares of the biopharmaceutical company’s stock valued at $12,684,000 after purchasing an additional 54,080 shares during the period. Bank of New York Mellon Corp lifted its position in Otonomy by 72.0% during 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 purchasing an additional 249,845 shares during the period. JPMorgan Chase & Co. lifted its position in Otonomy by 10,065.2% during the second quarter. JPMorgan Chase & Co. now owns 517,410 shares of the biopharmaceutical company’s stock valued at $9,753,000 after purchasing an additional 512,320 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Otonomy by 31.1% during the second quarter. Dimensional Fund Advisors LP now owns 407,799 shares of the biopharmaceutical company’s stock valued at $7,687,000 after purchasing an additional 96,630 shares during the period. 89.03% of the stock is currently owned by hedge funds and other institutional investors.
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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