$250,000.00 in Sales Expected for Otonomy Inc (OTIC) This Quarter

Analysts predict that Otonomy Inc (NASDAQ:OTIC) will report sales of $250,000.00 for the current quarter, according to Zacks. Two analysts have made estimates for Otonomy’s earnings, with the highest sales estimate coming in at $340,000.00 and the lowest estimate coming in at $150,000.00. Otonomy reported sales of $270,000.00 in the same quarter last year, which indicates a negative year-over-year growth rate of 7.4%. The company is scheduled to issue its next earnings report on Thursday, March 1st.

On average, analysts expect that Otonomy will report full year sales of $250,000.00 for the current fiscal year, with estimates ranging from $1.12 million to $2.20 million. For the next financial year, analysts anticipate that the company will post sales of $8.03 million per share, with estimates ranging from $200,000.00 to $21.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Otonomy.

Otonomy (NASDAQ:OTIC) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.15. Otonomy had a negative return on equity of 60.74% and a negative net margin of 7,899.03%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.43 million. Otonomy’s revenue was down 12.8% on a year-over-year basis.

OTIC has been the topic of several recent analyst reports. Zacks Investment Research upgraded Otonomy from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Tuesday, November 14th. Piper Jaffray Companies reiterated a “hold” rating and issued a $8.00 price target on shares of Otonomy in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Otonomy has an average rating of “Hold” and a consensus target price of $9.15.

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its stake in Otonomy by 722.6% in the fourth quarter. Acadian Asset Management LLC now owns 35,996 shares of the biopharmaceutical company’s stock worth $200,000 after purchasing an additional 31,620 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in Otonomy in the fourth quarter worth approximately $616,000. Alpine Associates Management Inc. bought a new position in Otonomy in the third quarter worth approximately $797,000. Dimensional Fund Advisors LP grew its stake in Otonomy by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 436,003 shares of the biopharmaceutical company’s stock worth $1,417,000 after purchasing an additional 28,204 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Otonomy in the third quarter worth approximately $263,000. 60.57% of the stock is currently owned by institutional investors.

Shares of Otonomy (NASDAQ:OTIC) opened at $5.68 on Friday. Otonomy has a fifty-two week low of $2.80 and a fifty-two week high of $21.15.

ILLEGAL ACTIVITY NOTICE: “$250,000.00 in Sales Expected for Otonomy Inc (OTIC) This Quarter” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://ledgergazette.com/2018/01/21/250000-00-in-sales-expected-for-otonomy-inc-otic-this-quarter.html.

Otonomy Company Profile

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.

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

Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

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.

Leave a Reply