Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Otonomy (OTIC) Share Price
Media coverage about Otonomy (NASDAQ:OTIC) has been trending somewhat positive on Tuesday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Otonomy earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave media stories about the biopharmaceutical company an impact score of 44.4702481491587 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
OTIC has been the subject of a number of research analyst reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $15.00 target price (down from $45.00) on shares of Otonomy in a research report on Thursday, August 31st. J P Morgan Chase & Co lowered Otonomy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $28.00 to $8.00 in a research report on Wednesday, August 30th. Piper Jaffray Companies lowered Otonomy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $8.00 in a research report on Wednesday, August 30th. Cowen and Company reaffirmed an “outperform” rating and issued a $9.00 target price (down from $55.00) on shares of Otonomy in a research report on Thursday, August 31st. Finally, Zacks Investment Research lowered Otonomy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.00.
Shares of Otonomy (NASDAQ OTIC) traded up 4.48% during mid-day trading on Tuesday, reaching $3.50. The company had a trading volume of 1,747,199 shares. The firm has a 50-day moving average of $15.35 and a 200-day moving average of $14.70. Otonomy has a 12-month low of $3.15 and a 12-month high of $21.15. The company’s market capitalization is $106.06 million.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.03. Otonomy had a negative net margin of 8,172.38% and a negative return on equity of 57.43%. The company had revenue of $0.33 million during the quarter, compared to the consensus estimate of $0.43 million. During the same period in the prior year, the firm earned ($0.98) earnings per share. Otonomy’s revenue was up 312.5% on a year-over-year basis. On average, equities analysts anticipate that Otonomy will post ($3.23) earnings per share for the current fiscal year.
In related news, insider Eric J. Loumeau sold 3,522 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $18.59, for a total value of $65,473.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.70% of the stock is owned by corporate insiders.
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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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