Equities research analysts forecast that Otonomy, Inc. (NASDAQ:OTIC) will announce sales of $390,000.00 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Otonomy’s earnings, with the highest sales estimate coming in at $460,000.00 and the lowest estimate coming in at $310,000.00. Otonomy reported sales of $270,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 44.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, March 1st.
On average, analysts expect that Otonomy will report full-year sales of $390,000.00 for the current fiscal year, with estimates ranging from $1.26 million to $2.30 million. For the next financial year, analysts anticipate that the firm will post sales of $4.61 million per share, with estimates ranging from $3.40 million to $5.81 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Otonomy.
Otonomy (NASDAQ:OTIC) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.15. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.43 million. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 60.74%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year.
Several equities analysts have recently issued reports on OTIC shares. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $15.00 price objective (down previously from $45.00) on shares of Otonomy in a research note on Thursday, August 31st. J P Morgan Chase & Co cut shares of Otonomy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $28.00 to $8.00 in a research note on Wednesday, August 30th. Piper Jaffray Companies reiterated a “hold” rating and issued a $8.00 target price on shares of Otonomy in a report on Friday. Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, ValuEngine cut shares of Otonomy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Otonomy has an average rating of “Hold” and a consensus target price of $9.15.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Otonomy in the second quarter worth about $115,000. Legal & General Group Plc boosted its holdings in shares of Otonomy by 13.3% in the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 746 shares during the period. Lakeview Capital Partners LLC acquired a new position in shares of Otonomy in the third quarter worth about $120,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Otonomy in the third quarter worth about $126,000. Finally, American International Group Inc. boosted its holdings in shares of Otonomy by 7.1% in the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 981 shares during the period. Institutional investors own 78.12% of the company’s stock.
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Shares of Otonomy (OTIC) traded up $0.03 on Friday, hitting $5.20. 1,470,400 shares of the stock traded hands, compared to its average volume of 816,177. Otonomy has a 12 month low of $2.80 and a 12 month high of $21.15.
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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