Brokerages expect Otonomy, Inc. (NASDAQ:OTIC) to report ($0.76) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Otonomy’s earnings. The highest EPS estimate is ($0.60) and the lowest is ($0.87). Otonomy reported earnings of ($0.79) per share during the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The company is expected to report its next quarterly earnings report on Thursday, November 2nd.

On average, analysts expect that Otonomy will report full year earnings of ($3.07) per share for the current financial year, with EPS estimates ranging from ($3.38) to ($2.60). For the next year, analysts expect that the business will post earnings of ($2.31) per share, with EPS estimates ranging from ($3.37) to ($1.55). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Otonomy.

Otonomy (NASDAQ:OTIC) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the firm earned ($0.98) earnings per share. The firm’s revenue was up 312.5% compared to the same quarter last year.

Several analysts have recently weighed in on the stock. Piper Jaffray Companies lowered shares of Otonomy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $8.00 in a research note on Wednesday, August 30th. J P Morgan Chase & Co lowered shares of Otonomy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $8.00 in a research note on Wednesday, August 30th. Cowen and Company reiterated an “outperform” rating and issued a $55.00 price objective on shares of Otonomy in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, BidaskClub lowered shares of Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $11.00.

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In other Otonomy news, insider Eric J. Loumeau sold 3,522 shares of the business’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $18.59, for a total transaction of $65,473.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in Otonomy by 5.7% during the 2nd quarter. California State Teachers Retirement System now owns 49,993 shares of the biopharmaceutical company’s stock valued at $942,000 after purchasing an additional 2,700 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Otonomy by 13.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,105 shares of the biopharmaceutical company’s stock valued at $435,000 after purchasing an additional 2,776 shares in the last quarter. Voya Investment Management LLC increased its stake in Otonomy by 17.9% during the 2nd quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock valued at $238,000 after purchasing an additional 1,918 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Otonomy by 31.1% during the 2nd 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 in the last quarter. Finally, Northern Trust Corp increased its stake in Otonomy by 16.9% during the 2nd quarter. Northern Trust Corp now owns 348,514 shares of the biopharmaceutical company’s stock valued at $6,570,000 after purchasing an additional 50,261 shares in the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.

Shares of Otonomy (OTIC) remained flat at $3.45 on Wednesday. The company’s stock had a trading volume of 2,102,752 shares. Otonomy has a one year low of $3.15 and a one year high of $21.15. The company’s market cap is $104.55 million. The stock has a 50 day moving average of $13.54 and a 200-day moving average of $14.38.

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.

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