FY2017 Earnings Forecast for Otonomy, Inc. (OTIC) Issued By SunTrust Banks
Otonomy, Inc. (NASDAQ:OTIC) – Stock analysts at SunTrust Banks raised their FY2017 earnings estimates for shares of Otonomy in a note issued to investors on Thursday. SunTrust Banks analyst E. Nash now anticipates that the biopharmaceutical company will post earnings per share of ($3.10) for the year, up from their previous forecast of ($3.38). SunTrust Banks has a “Buy” rating and a $15.00 price target 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.
Several other equities research analysts have also recently commented on the company. J P Morgan Chase & Co cut Otonomy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $8.00 in a research note on Wednesday, August 30th. Cowen and Company reaffirmed an “outperform” rating and set a $9.00 target price (down previously from $55.00) on shares of Otonomy in a research note on Thursday, August 31st. Piper Jaffray Companies cut Otonomy from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $8.00 in a research note on Wednesday, August 30th. ValuEngine cut Otonomy from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research raised Otonomy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.15.
TRADEMARK VIOLATION WARNING: This piece of content was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/15/fy2017-earnings-forecast-for-otonomy-inc-otic-issued-by-suntrust-banks.html.
Shares of Otonomy (NASDAQ:OTIC) opened at $5.25 on Monday. Otonomy has a one year low of $2.80 and a one year high of $21.15.
Otonomy (NASDAQ:OTIC) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.15. Otonomy had a negative return on equity of 60.74% and a negative net margin of 7,899.03%. The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.43 million. The business’s quarterly revenue was down 12.8% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Otonomy in the second quarter valued at approximately $115,000. Legal & General Group Plc grew its stake in Otonomy by 13.3% in the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 746 shares during the period. Lakeview Capital Partners LLC acquired a new stake in Otonomy in the third quarter valued at approximately $120,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Otonomy in the third quarter valued at approximately $126,000. Finally, American International Group Inc. grew its stake in Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 981 shares during the period. 78.12% of the stock is owned by hedge funds and other institutional investors.
Otonomy Company Profile
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.
Receive News & Stock Ratings for Otonomy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy Inc. and related stocks with our FREE daily email newsletter.