Otonomy (OTIC) Shares Up 5.7%
Otonomy Inc (NASDAQ:OTIC) shares shot up 5.7% on Monday . The stock traded as high as $5.65 and last traded at $5.60. 522,546 shares changed hands during trading, an increase of 45% from the average session volume of 360,743 shares. The stock had previously closed at $5.30.
Several brokerages have recently weighed in on OTIC. Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Piper Jaffray Companies reiterated a “hold” rating and set a $8.00 price objective on shares of Otonomy in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Otonomy presently has a consensus rating of “Hold” and an average target price of $9.15.
The firm has a market cap of $169.89, a price-to-earnings ratio of -1.76 and a beta of 3.16.
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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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