Otonomy (NASDAQ:OTIC) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.05, Bloomberg Earnings reports. Otonomy had a negative return on equity of 59.85% and a negative net margin of 7,292.07%. The firm had revenue of $0.27 million during the quarter, compared to analyst estimates of $0.46 million. The business’s quarterly revenue was down 1.1% on a year-over-year basis.
Shares of Otonomy (OTIC) opened at $5.03 on Friday. Otonomy has a twelve month low of $2.80 and a twelve month high of $21.15. The stock has a market capitalization of $166.65, a PE ratio of -1.69 and a beta of 2.94.
Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Otonomy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Piper Jaffray Companies restated a “hold” rating and issued a $8.00 price target on shares of Otonomy in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.15.
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’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.
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