Research analysts at StockNews.com started coverage on shares of Otonomy (NASDAQ:OTIC – Get Rating) in a report issued on Monday. The firm set a “sell” rating on the biopharmaceutical company’s stock.
Separately, Oppenheimer increased their price target on shares of Otonomy from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th.
OTIC stock opened at $1.82 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.61 and a current ratio of 6.61. Otonomy has a 52 week low of $1.14 and a 52 week high of $2.59. The firm’s fifty day moving average is $2.06 and its 200 day moving average is $2.12. The firm has a market cap of $103.60 million, a P/E ratio of -2.33 and a beta of 1.66.
Otonomy (NASDAQ:OTIC – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.01. During the same quarter in the previous year, the firm posted ($0.23) EPS. As a group, analysts forecast that Otonomy will post -0.76 EPS for the current year.
In other news, CEO David Allen Weber sold 11,243 shares of the firm’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $2.41, for a total value of $27,095.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 24,968 shares of company stock valued at $59,965 in the last three months. 7.90% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Suvretta Capital Management LLC lifted its position in shares of Otonomy by 12.2% in the 4th quarter. Suvretta Capital Management LLC now owns 2,678,115 shares of the biopharmaceutical company’s stock worth $5,570,000 after purchasing an additional 290,415 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Otonomy in the 3rd quarter worth about $1,245,000. Two Sigma Securities LLC bought a new position in shares of Otonomy in the 3rd quarter worth about $72,000. Dimensional Fund Advisors LP increased its stake in shares of Otonomy by 17.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 841,694 shares of the biopharmaceutical company’s stock worth $2,020,000 after acquiring an additional 126,747 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Otonomy by 0.9% in the 4th quarter. BlackRock Inc. now owns 805,953 shares of the biopharmaceutical company’s stock worth $1,677,000 after acquiring an additional 6,908 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.
Otonomy Company Profile (Get Rating)
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.