Otonomy Inc (NASDAQ:OTIC) Expected to Announce Quarterly Sales of $110,000.00

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Brokerages expect that Otonomy Inc (NASDAQ:OTIC) will report sales of $110,000.00 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Otonomy’s earnings, with the lowest sales estimate coming in at $100,000.00 and the highest estimate coming in at $120,000.00. Otonomy reported sales of $210,000.00 during the same quarter last year, which indicates a negative year-over-year growth rate of 47.6%. The company is expected to report its next quarterly earnings results on Monday, March 2nd.

On average, analysts expect that Otonomy will report full-year sales of $740,000.00 for the current fiscal year, with estimates ranging from $600,000.00 to $1.00 million. For the next year, analysts anticipate that the company will post sales of $400,000.00. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Otonomy.

OTIC has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Otonomy in a report on Tuesday, December 24th. They issued an “outperform” rating and a $8.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Otonomy in a research note on Wednesday, November 6th. Zacks Investment Research raised Otonomy from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research note on Tuesday, January 7th. Finally, ValuEngine cut Otonomy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Otonomy presently has an average rating of “Buy” and a consensus price target of $6.38.

A number of hedge funds and other institutional investors have recently bought and sold shares of OTIC. Mercer Global Advisors Inc. ADV increased its stake in Otonomy by 222.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 137,746 shares of the biopharmaceutical company’s stock worth $528,000 after purchasing an additional 95,000 shares in the last quarter. BlackRock Inc. increased its stake in Otonomy by 1.0% during the 2nd quarter. BlackRock Inc. now owns 844,466 shares of the biopharmaceutical company’s stock worth $2,322,000 after purchasing an additional 8,148 shares in the last quarter. Vanguard Group Inc. increased its stake in Otonomy by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,176,798 shares of the biopharmaceutical company’s stock worth $3,236,000 after purchasing an additional 5,768 shares in the last quarter. Ikarian Capital LLC acquired a new position in Otonomy during the 4th quarter worth approximately $4,088,000. Finally, Sofinnova Investments Inc. boosted its position in Otonomy by 5.4% during the 4th quarter. Sofinnova Investments Inc. now owns 1,515,629 shares of the biopharmaceutical company’s stock worth $5,804,000 after acquiring an additional 77,664 shares during the last quarter. 56.39% of the stock is owned by institutional investors and hedge funds.

Otonomy stock traded up $0.01 on Friday, hitting $3.55. The company’s stock had a trading volume of 74,932 shares, compared to its average volume of 209,412. The firm has a market cap of $108.55 million, a P/E ratio of -2.34 and a beta of 2.75. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $3.53 and a 200-day moving average price of $2.67. Otonomy has a one year low of $2.05 and a one year high of $4.18.

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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Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

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