Otonomy Inc (NASDAQ:OTIC) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 553,900 shares, a growth of 38.5% from the August 15th total of 400,000 shares. Based on an average trading volume of 449,200 shares, the short-interest ratio is presently 1.2 days.
Several equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Otonomy in a report on Thursday, August 6th. Oppenheimer restated a “buy” rating and set a $8.00 price objective on shares of Otonomy in a research note on Monday, July 6th. Craig Hallum began coverage on shares of Otonomy in a report on Friday, May 29th. They issued a “buy” rating and a $8.00 target price on the stock. ValuEngine cut shares of Otonomy from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Otonomy in a report on Monday, August 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Otonomy presently has a consensus rating of “Buy” and an average target price of $8.05.
Otonomy stock traded down $0.15 during trading hours on Wednesday, hitting $3.75. The company had a trading volume of 14,511 shares, compared to its average volume of 253,586. The firm has a market cap of $188.09 million, a PE ratio of -2.60 and a beta of 2.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.76 and a quick ratio of 3.76. Otonomy has a one year low of $1.53 and a one year high of $4.89. The firm has a 50-day moving average of $3.71 and a 200 day moving average of $3.00.
Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.01). Otonomy had a negative net margin of 11,386.86% and a negative return on equity of 125.30%. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.13 million. As a group, research analysts expect that Otonomy will post -1.19 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Otonomy by 28.5% in the first quarter. Acadian Asset Management LLC now owns 160,691 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 35,603 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in Otonomy in the first quarter valued at approximately $44,000. JPMorgan Chase & Co. boosted its position in Otonomy by 156.8% in the first quarter. JPMorgan Chase & Co. now owns 31,106 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 18,995 shares in the last quarter. Granahan Investment Management Inc. MA acquired a new stake in Otonomy in the first quarter valued at approximately $326,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Otonomy in the first quarter valued at approximately $61,000. 38.98% of the stock is currently owned by institutional investors.
Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a proprietary formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.
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