Otonomy Inc. (NASDAQ:OTIC) – Analysts at SunTrust Banks dropped their FY2020 earnings per share estimates for Otonomy in a research note issued to investors on Sunday. SunTrust Banks analyst E. Nash now forecasts that the brokerage will post earnings per share of $5.44 for the year, down from their prior estimate of $5.73.
A number of other research analysts also recently weighed in on OTIC. Zacks Investment Research raised shares of Otonomy from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $32.00 target price (down previously from $42.00) on shares of Otonomy in a research report on Monday, August 8th.
Shares of Otonomy (NASDAQ:OTIC) traded down 2.83% on Tuesday, hitting $17.15. 155,361 shares of the stock were exchanged. The firm’s market capitalization is $517.38 million. Otonomy has a one year low of $10.50 and a one year high of $31.15. The company has a 50-day moving average price of $17.54 and a 200-day moving average price of $15.71.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTIC. Goldman Sachs Group Inc. increased its position in Otonomy by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 380,986 shares of the biopharmaceutical company’s stock worth $5,685,000 after buying an additional 2,401 shares during the period. Geode Capital Management LLC increased its position in shares of Otonomy by 41.2% in the first quarter. Geode Capital Management LLC now owns 152,039 shares of the biopharmaceutical company’s stock worth $2,268,000 after buying an additional 44,388 shares during the period. Sabby Management LLC purchased a new position in shares of Otonomy during the first quarter worth approximately $746,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Otonomy during the first quarter worth approximately $266,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Otonomy by 63.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,192 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 7,034 shares during the period. 87.13% of the stock is owned by institutional investors and hedge funds.
Otonomy Company Profile
Otonomy, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Company has developed a technology referred to as sustained-exposure that is designed to deliver drug that is retained in the ear for an extended period of time following a local administration.
Receive News & Ratings for Otonomy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.