Zacks Investment Research Lowers Otonomy (NASDAQ:OTIC) to Hold

Zacks Investment Research lowered shares of Otonomy (NASDAQ:OTIC) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Separately, ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $5.92.

NASDAQ OTIC opened at $2.52 on Wednesday. The stock’s 50-day simple moving average is $2.54. Otonomy has a twelve month low of $1.50 and a twelve month high of $3.95. The company has a current ratio of 9.07, a quick ratio of 9.07 and a debt-to-equity ratio of 0.45.

Otonomy (NASDAQ:OTIC) last released its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.07. The firm had revenue of $0.19 million for the quarter, compared to the consensus estimate of $0.33 million. Otonomy had a negative return on equity of 60.14% and a negative net margin of 8,007.55%. On average, equities analysts anticipate that Otonomy will post -1.86 EPS for the current year.

Large investors have recently made changes to their positions in the business. Spark Investment Management LLC increased its stake in Otonomy by 59.5% during the first quarter. Spark Investment Management LLC now owns 46,207 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 17,241 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Otonomy during the first quarter worth about $225,000. Acadian Asset Management LLC increased its stake in Otonomy by 31.6% during the first quarter. Acadian Asset Management LLC now owns 119,044 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 28,551 shares during the last quarter. BlackRock Inc. increased its stake in Otonomy by 4.4% during the fourth quarter. BlackRock Inc. now owns 841,216 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 35,592 shares during the last quarter. Finally, Pura Vida Investments LLC increased its stake in Otonomy by 211.6% during the fourth quarter. Pura Vida Investments LLC now owns 896,387 shares of the biopharmaceutical company’s stock worth $1,658,000 after acquiring an additional 608,730 shares during the last quarter. Institutional investors own 53.31% of the company’s stock.

Otonomy Company Profile

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a proprietary formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

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