Zacks: Brokerages Anticipate Otonomy, Inc. (NASDAQ:OTIC) Will Announce Quarterly Sales of $70,000.00

Brokerages expect that Otonomy, Inc. (NASDAQ:OTIC) will post sales of $70,000.00 for the current quarter, according to Zacks. Two analysts have issued estimates for Otonomy’s earnings. The highest sales estimate is $80,000.00 and the lowest is $50,000.00. Otonomy reported sales of $50,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 40%. The company is expected to announce its next earnings results on Wednesday, November 3rd.

On average, analysts expect that Otonomy will report full-year sales of $230,000.00 for the current financial year, with estimates ranging from $130,000.00 to $320,000.00. For the next year, analysts forecast that the business will report sales of $350,000.00. Zacks’ sales averages are a mean average based on a survey of research firms that follow Otonomy.

Otonomy (NASDAQ:OTIC) last released its earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.02). The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.07 million. Otonomy had a negative return on equity of 67.24% and a negative net margin of 20,278.95%.

Separately, Zacks Investment Research lowered shares of Otonomy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 10th.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ghost Tree Capital LLC increased its stake in Otonomy by 125.0% in the 1st quarter. Ghost Tree Capital LLC now owns 450,000 shares of the biopharmaceutical company’s stock worth $1,148,000 after purchasing an additional 250,000 shares during the period. Algert Global LLC purchased a new stake in Otonomy during the first quarter valued at $217,000. Geode Capital Management LLC increased its position in Otonomy by 18.9% in the first quarter. Geode Capital Management LLC now owns 416,190 shares of the biopharmaceutical company’s stock worth $1,061,000 after buying an additional 66,136 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Otonomy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,174,026 shares of the biopharmaceutical company’s stock worth $7,596,000 after acquiring an additional 5,483 shares during the period. Finally, Squarepoint Ops LLC bought a new position in Otonomy during the first quarter valued at approximately $514,000. Institutional investors and hedge funds own 63.03% of the company’s stock.

Shares of NASDAQ OTIC traded up $0.02 during trading hours on Friday, hitting $1.60. 411 shares of the stock were exchanged, compared to its average volume of 675,517. The company has a debt-to-equity ratio of 0.20, a current ratio of 11.25 and a quick ratio of 11.25. Otonomy has a one year low of $1.14 and a one year high of $6.98. The company’s 50 day moving average is $1.64 and its 200 day moving average is $2.14. The firm has a market capitalization of $90.69 million, a P/E ratio of -1.88 and a beta of 2.00.

About Otonomy

Otonomy, Inc operates as a biopharmaceutical company. It engages in the development of therapeutics for neurotology. The firm’s product pipeline includes OTIVIDEX (dexamethasone) Meniere’s disease, OTIPRIO (ciprofloxacin otic suspension) acute otitis media with tubes (AOMT), OTO-313 (gacyclidine) tinnitus, OTO-413 (BDNF) hidden hearing Loss, OTO-510 (otoprotectant) prevent CIHL, OTO-6XX (hair cell regeneration) severe hearing loss.

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