Otonomy (NASDAQ:OTIC) Now Covered by StockNews.com

Stock analysts at StockNews.com started coverage on shares of Otonomy (NASDAQ:OTICGet Rating) in a report released on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. HC Wainwright lowered Otonomy from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 2nd. Piper Sandler reduced their price target on Otonomy from $6.00 to $3.00 in a research report on Monday, August 1st.

Otonomy Stock Down 7.3 %

NASDAQ:OTIC opened at $0.31 on Monday. Otonomy has a 1 year low of $0.24 and a 1 year high of $2.59. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.49. The stock has a market cap of $17.52 million, a price-to-earnings ratio of -0.39 and a beta of 1.49. The stock has a 50-day moving average price of $0.86 and a two-hundred day moving average price of $1.69.

Otonomy (NASDAQ:OTICGet Rating) last issued its quarterly earnings results on Monday, July 25th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the prior year, the business earned ($0.19) earnings per share. As a group, equities analysts expect that Otonomy will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OTIC. Suvretta Capital Management LLC grew its holdings in Otonomy by 17.4% during the 1st quarter. Suvretta Capital Management LLC now owns 3,144,196 shares of the biopharmaceutical company’s stock worth $7,546,000 after acquiring an additional 466,081 shares during the period. Dimensional Fund Advisors LP grew its holdings in Otonomy by 17.7% during 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 during the period. Lynx1 Capital Management LP acquired a new stake in Otonomy during the 4th quarter worth about $62,000. State Street Corp grew its holdings in Otonomy by 5.1% during the 1st quarter. State Street Corp now owns 182,239 shares of the biopharmaceutical company’s stock worth $437,000 after acquiring an additional 8,839 shares during the period. Finally, Silverarc Capital Management LLC grew its holdings in Otonomy by 0.6% during the 1st quarter. Silverarc Capital Management LLC now owns 1,207,385 shares of the biopharmaceutical company’s stock worth $2,898,000 after acquiring an additional 7,571 shares during the period. 80.05% of the stock is owned by 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.

Further Reading

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