Otonomy, Inc. (NASDAQ:OTIC) Expected to Post Earnings of -$0.20 Per Share

Brokerages predict that Otonomy, Inc. (NASDAQ:OTICGet Rating) will post ($0.20) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Otonomy’s earnings. Otonomy posted earnings of ($0.19) per share during the same quarter last year, which would indicate a negative year over year growth rate of 5.3%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Otonomy will report full-year earnings of ($0.77) per share for the current financial year, with EPS estimates ranging from ($0.81) to ($0.70). For the next year, analysts forecast that the company will post earnings of ($0.75) per share, with EPS estimates ranging from ($0.90) to ($0.61). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Otonomy.

Otonomy (NASDAQ:OTICGet Rating) last issued its earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. During the same quarter in the prior year, the business earned ($0.23) EPS.

Several research firms have recently weighed in on OTIC. StockNews.com began coverage on shares of Otonomy in a research note on Saturday, May 7th. They issued a “sell” rating for the company. Oppenheimer lifted their target price on shares of Otonomy from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note 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.

In other news, CEO David Allen Weber sold 11,243 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 24,968 shares of company stock valued at $59,965 over the last 90 days. 7.90% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in OTIC. Barclays PLC boosted its position in shares of Otonomy by 229.2% in the third quarter. Barclays PLC now owns 15,240 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 10,610 shares during the period. Millennium Management LLC bought a new stake in Otonomy during the fourth quarter valued at approximately $39,000. Lynx1 Capital Management LP bought a new stake in Otonomy during the fourth quarter valued at approximately $62,000. Morgan Stanley lifted its position in Otonomy by 378.9% during the second quarter. Morgan Stanley now owns 31,606 shares of the biopharmaceutical company’s stock valued at $70,000 after purchasing an additional 25,006 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in Otonomy during the third quarter valued at approximately $72,000. Institutional investors own 61.60% of the company’s stock.

NASDAQ OTIC traded up $0.11 during trading hours on Friday, reaching $2.08. 208,412 shares of the company were exchanged, compared to its average volume of 148,038. The stock has a market capitalization of $118.40 million, a P/E ratio of -2.67 and a beta of 1.65. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $2.19 and its 200-day simple moving average is $2.14. Otonomy has a 1 year low of $1.14 and a 1 year high of $2.59.

About Otonomy (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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Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

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