Otonomy (OTIC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Otonomy (NASDAQ:OTIC) from a buy rating to a hold rating in a report issued on Thursday.

According to Zacks, “Otonomy, Inc. engages in developing and commercializing therapeutics to address unmet medical needs in the otology market. It develops therapeutics for treatment of inner and middle ear disorders. The Company’s product candidates under development includes AuriPro to treat pediatric patients with middle ear effusion; and OTO-104 for the treatment of patients with Ménière’s disease. Otonomy, Inc. is headquartered in San Diego, California. “

How to Become a New Pot Stock Millionaire

A number of other equities analysts also recently commented on the stock. Piper Jaffray upgraded shares of Otonomy from a neutral rating to an overweight rating in a research note on Monday, March 12th. JPMorgan Chase downgraded shares of Otonomy from a neutral rating to an underweight rating in a research note on Monday, March 19th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $8.95.

Shares of NASDAQ:OTIC opened at $4.05 on Thursday. Otonomy has a 12 month low of $2.80 and a 12 month high of $21.15.

Otonomy (NASDAQ:OTIC) last issued its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.05. The company had revenue of $0.27 million for the quarter, compared to the consensus estimate of $0.46 million. Otonomy had a negative net margin of 7,292.07% and a negative return on equity of 63.35%. The firm’s revenue was down 1.1% compared to the same quarter last year. sell-side analysts forecast that Otonomy will post -1.72 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of OTIC. The Manufacturers Life Insurance Company grew its stake in Otonomy by 2,178.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,377 shares of the biopharmaceutical company’s stock worth $125,000 after acquiring an additional 21,395 shares in the last quarter. Elkfork Partners LLC bought a new position in Otonomy in the 4th quarter worth about $151,000. Acadian Asset Management LLC grew its stake in Otonomy by 722.6% in the 4th quarter. Acadian Asset Management LLC now owns 35,996 shares of the biopharmaceutical company’s stock worth $200,000 after acquiring an additional 31,620 shares in the last quarter. Highland Capital Management LP bought a new position in Otonomy in the 4th quarter worth about $222,000. Finally, Worth Venture Partners LLC grew its stake in Otonomy by 67.6% in the 4th quarter. Worth Venture Partners LLC now owns 53,760 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 21,685 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Otonomy (OTIC) Stock Rating Lowered by Zacks Investment Research” was published by Ticker Report and is owned by of Ticker Report. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark law. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3340693/otonomy-otic-stock-rating-lowered-by-zacks-investment-research.html.

About Otonomy

Otonomy, Inc, a biopharmaceutical company, engages in the development and commercialization of therapeutics for otology in the United States. It offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. The company also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; and OTO- 313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which has completed a Phase 1 clinical safety trial for the treatment of tinnitus.

Get a free copy of the Zacks research report on Otonomy (OTIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Farmers National Banc  Earns Hold Rating from Keefe, Bruyette & Woods
Farmers National Banc Earns Hold Rating from Keefe, Bruyette & Woods
Buckeye Partners  Coverage Initiated at Deutsche Bank
Buckeye Partners Coverage Initiated at Deutsche Bank
Mplx  Receives New Coverage from Analysts at Deutsche Bank
Mplx Receives New Coverage from Analysts at Deutsche Bank
Summit Midstream  Coverage Initiated by Analysts at Deutsche Bank
Summit Midstream Coverage Initiated by Analysts at Deutsche Bank
CacheCoin Market Capitalization Hits $84,716.00
CacheCoin Market Capitalization Hits $84,716.00
DigiByte  Price Hits $0.0339 on Top Exchanges
DigiByte Price Hits $0.0339 on Top Exchanges


Leave a Reply

© 2006-2018 Ticker Report. Google+.