Otonomy (OTIC) to Release Earnings on Monday

Otonomy (NASDAQ:OTIC – Get Rating) is set to post its quarterly earnings results after the market closes on Monday, May 9th. Analysts expect Otonomy to post earnings of ($0.21) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Otonomy (NASDAQ:OTIC – Get Rating) last released its quarterly earnings data on Monday, February 28th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). During the same quarter in the prior year, the firm earned ($0.20) EPS. On average, analysts expect Otonomy to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

OTIC traded up $0.05 on Tuesday, reaching $2.34. The stock had a trading volume of 153 shares, compared to its average volume of 136,955. The company has a market cap of $132.75 million, a P/E ratio of -2.83 and a beta of 1.65. The business’s 50-day moving average price is $2.28 and its two-hundred day moving average price is $2.14. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 0.29. Otonomy has a 12-month low of $1.14 and a 12-month high of $2.59.

In other news, CEO David Allen Weber sold 11,243 shares of the firm’s stock in a transaction on 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 is available at the SEC website. In the last quarter, insiders have sold 24,968 shares of company stock valued at $59,965. 7.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in OTIC. Millennium Management LLC acquired a new stake in shares of Otonomy in the fourth quarter valued at about $39,000. Morgan Stanley increased its holdings in Otonomy by 378.9% during the 2nd quarter. Morgan Stanley now owns 31,606 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 25,006 shares in the last quarter. Geode Capital Management LLC increased its holdings in Otonomy by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 451,702 shares of the biopharmaceutical company’s stock valued at $867,000 after acquiring an additional 24,308 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Otonomy by 0.9% during the 4th quarter. BlackRock Inc. now owns 805,953 shares of the biopharmaceutical company’s stock valued at $1,677,000 after acquiring an additional 6,908 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

OTIC has been the subject of several research reports. StockNews.com initiated coverage on shares of Otonomy in a research note on Friday. They set a “sell” rating for the company. Oppenheimer upped their price objective on shares of Otonomy from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Finally, Zacks Investment Research downgraded shares of Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.50.

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.

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