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.
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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.
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