Equities Analysts Issue Forecasts for Otonomy, Inc.’s FY2017 Earnings (OTIC)

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.

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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.

About Otonomy

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.

Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

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