Otonomy (NASDAQ:OTIC) Rating Lowered to Neutral at HC Wainwright

HC Wainwright downgraded shares of Otonomy (NASDAQ:OTIC – Get Rating) from a buy rating to a neutral rating in a report released on Tuesday morning, Marketbeat.com reports.

A number of other equities research analysts also recently issued reports on the stock. Oppenheimer increased their price target on shares of Otonomy from $5.00 to $6.00 and gave the stock an outperform rating in a report on Wednesday, April 20th. Piper Sandler lowered their price target on shares of Otonomy from $6.00 to $3.00 in a report on Monday, August 1st. Finally, StockNews.com began coverage on shares of Otonomy in a report on Saturday, July 30th. They issued a hold rating on the stock.

Otonomy Price Performance

NASDAQ OTIC opened at $0.35 on Tuesday. The company has a market cap of $19.83 million, a PE ratio of -0.45 and a beta of 1.30. Otonomy has a 52 week low of $0.24 and a 52 week high of $2.59. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $1.83 and its two-hundred day simple moving average is $2.04.

Otonomy (NASDAQ:OTIC – Get Rating) last released its quarterly earnings data on Monday, July 25th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.01. During the same quarter in the previous year, the company earned ($0.19) EPS. Research analysts predict that Otonomy will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Suvretta Capital Management LLC increased its position in shares of Otonomy by 17.4% in the first quarter. Suvretta Capital Management LLC now owns 3,144,196 shares of the biopharmaceutical company’s stock worth $7,546,000 after purchasing an additional 466,081 shares during the last quarter. Silverarc Capital Management LLC increased its position in shares of Otonomy by 0.6% in the first quarter. Silverarc Capital Management LLC now owns 1,207,385 shares of the biopharmaceutical company’s stock worth $2,898,000 after purchasing an additional 7,571 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Otonomy by 17.7% in the first quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company’s stock worth $2,020,000 after purchasing an additional 126,747 shares during the last quarter. State Street Corp increased its position in shares of Otonomy by 5.1% in the first quarter. State Street Corp now owns 182,239 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 8,839 shares during the last quarter. Finally, Lynx1 Capital Management LP bought a new position in Otonomy during the fourth quarter valued at approximately $62,000. 61.60% of the stock is currently owned by institutional investors.

Otonomy Company Profile

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Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase II clinical trials to treat tinnitus; and OTO-413, a sustained-exposure formulation of brain-derived neurotrophic factor that is in Phase IIa clinical trials for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.