Otonomy, Inc. (NASDAQ:OTIC) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.15.

OTIC has been the subject of a number of analyst reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $15.00 price target (down previously from $45.00) on shares of Otonomy in a report on Thursday, August 31st. Zacks Investment Research raised shares of Otonomy from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $8.00 price target on shares of Otonomy in a report on Friday, November 10th. BidaskClub downgraded shares of Otonomy from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, J P Morgan Chase & Co downgraded shares of Otonomy from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $8.00 in a report on Wednesday, August 30th.

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Otonomy in the 2nd quarter worth about $115,000. Legal & General Group Plc raised its position in Otonomy by 13.3% in the 2nd quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 746 shares during the period. Voya Investment Management LLC raised its position in Otonomy by 17.9% in the 2nd quarter. Voya Investment Management LLC now owns 12,606 shares of the biopharmaceutical company’s stock worth $238,000 after purchasing an additional 1,918 shares during the period. American International Group Inc. raised its position in Otonomy by 7.1% in the 1st quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 981 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Otonomy in the 1st quarter worth about $216,000. 78.12% of the stock is currently owned by institutional investors.

Otonomy (OTIC) traded up $0.05 on Tuesday, hitting $5.55. 843,737 shares of the company’s stock traded hands, compared to its average volume of 823,005. Otonomy has a twelve month low of $2.80 and a twelve month high of $21.15.

Otonomy (NASDAQ:OTIC) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) EPS for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $0.43 million. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. equities research analysts forecast that Otonomy will post -2.94 earnings per share for the current fiscal year.

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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.

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