$330,000.00 in Sales Expected for Otonomy Inc (OTIC) This Quarter

Brokerages expect that Otonomy Inc (NASDAQ:OTIC) will announce sales of $330,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Otonomy’s earnings. The lowest sales estimate is $150,000.00 and the highest is $500,000.00. Otonomy posted sales of $300,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The business is scheduled to report its next earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Otonomy will report full-year sales of $2.88 million for the current financial year, with estimates ranging from $760,000.00 to $5.00 million. For the next financial year, analysts anticipate that the company will post sales of $5.46 million, with estimates ranging from $920,000.00 to $10.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Otonomy.

Otonomy (NASDAQ:OTIC) last posted its earnings results on Monday, March 4th. The biopharmaceutical company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.05. Otonomy had a negative net margin of 6,760.81% and a negative return on equity of 53.29%. The company had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.18 million.

A number of analysts have commented on the company. Cantor Fitzgerald reissued a “buy” rating and set a $5.00 price objective on shares of Otonomy in a report on Monday, March 4th. Piper Jaffray Companies restated a “buy” rating on shares of Otonomy in a report on Tuesday, March 5th. ValuEngine raised Otonomy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research downgraded Otonomy from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Otonomy presently has an average rating of “Buy” and an average target price of $5.92.

Several hedge funds have recently made changes to their positions in the company. First Manhattan Co. boosted its holdings in Otonomy by 71.7% during the fourth quarter. First Manhattan Co. now owns 3,041,794 shares of the biopharmaceutical company’s stock worth $5,627,000 after purchasing an additional 1,269,921 shares during the last quarter. Pura Vida Investments LLC grew its position in Otonomy by 211.6% in the 4th quarter. Pura Vida Investments LLC now owns 896,387 shares of the biopharmaceutical company’s stock worth $1,658,000 after purchasing an additional 608,730 shares in the last quarter. 683 Capital Management LLC lifted its position in shares of Otonomy by 37.5% during the 4th quarter. 683 Capital Management LLC now owns 1,100,000 shares of the biopharmaceutical company’s stock worth $2,035,000 after buying an additional 300,000 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Otonomy by 11.2% during the 3rd quarter. Vanguard Group Inc now owns 1,127,033 shares of the biopharmaceutical company’s stock worth $3,100,000 after buying an additional 113,457 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Otonomy by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,127,033 shares of the biopharmaceutical company’s stock worth $3,100,000 after buying an additional 113,457 shares in the last quarter. Institutional investors own 57.41% of the company’s stock.

NASDAQ OTIC traded down $0.03 during trading hours on Wednesday, hitting $2.82. The company’s stock had a trading volume of 32,228 shares, compared to its average volume of 138,285. Otonomy has a 52 week low of $1.50 and a 52 week high of $4.85. The stock has a market cap of $87.45 million, a price-to-earnings ratio of -1.71 and a beta of 2.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 13.36 and a current ratio of 13.36.

About Otonomy

Otonomy, Inc, a biopharmaceutical company, engages in the development and commercialization of therapeutics for otology in the United States. It offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. The company also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; and OTO- 313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which has completed a Phase 1 clinical safety trial for the treatment of tinnitus.

Featured Story: Should You Consider an Index Fund?

Get a free copy of the Zacks research report on Otonomy (OTIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with MarketBeat.com's FREE daily email newsletter.