Shares of Otonomy Inc (NASDAQ:OTIC) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $9.67.
A number of research analysts have recently commented on OTIC shares. Zacks Investment Research cut Otonomy from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Piper Jaffray Companies upgraded Otonomy from a “neutral” rating to an “overweight” rating in a research note on Monday, March 12th. Finally, JPMorgan Chase & Co. cut Otonomy from a “neutral” rating to an “underweight” rating in a research note on Monday, March 19th.
Shares of Otonomy stock traded down $0.35 on Monday, hitting $4.05. The stock had a trading volume of 443,320 shares, compared to its average volume of 681,210. Otonomy has a one year low of $2.80 and a one year high of $21.15. The company has a market cap of $134.54, a PE ratio of -1.36 and a beta of 2.94.
A number of large investors have recently made changes to their positions in OTIC. First Manhattan Co. bought a new position in Otonomy during the 4th quarter worth $10,556,000. Renaissance Technologies LLC bought a new position in Otonomy during the 4th quarter worth $4,094,000. Nexthera Capital LP bought a new position in Otonomy during the 4th quarter worth $3,345,000. 683 Capital Management LLC bought a new position in Otonomy during the 4th quarter worth $3,053,000. Finally, Bogle Investment Management L P DE bought a new position in Otonomy during the 4th quarter worth $2,009,000. 71.62% of the stock is owned by institutional investors and hedge funds.
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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