Otonomy, Inc. (NASDAQ:OTIC) Expected to Post Earnings of -$0.20 Per Share

Equities research analysts forecast that Otonomy, Inc. (NASDAQ:OTICGet Rating) will announce earnings per share (EPS) of ($0.20) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Otonomy’s earnings. Otonomy posted earnings of ($0.19) per share in the same quarter last year, which would suggest a negative year over year growth rate of 5.3%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Otonomy will report full-year earnings of ($0.77) per share for the current year, with EPS estimates ranging from ($0.81) to ($0.70). For the next financial year, analysts forecast that the firm will report earnings of ($0.75) per share, with EPS estimates ranging from ($0.90) to ($0.61). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Otonomy.

Otonomy (NASDAQ:OTICGet Rating) last posted its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.01. During the same period in the previous year, the company earned ($0.23) EPS.

OTIC has been the topic of a number of research reports. StockNews.com initiated coverage on Otonomy in a report on Saturday, May 7th. They issued a “sell” rating on the stock. Zacks Investment Research lowered Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, March 4th. Finally, Oppenheimer increased their price target on Otonomy from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th.

In related news, CEO David Allen Weber sold 11,243 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $2.41, for a total value of $27,095.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 24,968 shares of company stock worth $59,965 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in OTIC. Barclays PLC raised its position in Otonomy by 229.2% in the third quarter. Barclays PLC now owns 15,240 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 10,610 shares during the period. Millennium Management LLC purchased a new position in Otonomy in the fourth quarter valued at about $39,000. Lynx1 Capital Management LP purchased a new position in Otonomy in the fourth quarter valued at about $62,000. Morgan Stanley raised its position in Otonomy by 378.9% in the second quarter. Morgan Stanley now owns 31,606 shares of the biopharmaceutical company’s stock valued at $70,000 after purchasing an additional 25,006 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in Otonomy in the third quarter valued at about $72,000. 61.60% of the stock is currently owned by institutional investors.

NASDAQ OTIC traded up $0.11 on Friday, hitting $2.08. 208,412 shares of the company’s stock were exchanged, compared to its average volume of 148,038. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.61 and a quick ratio of 6.61. The firm’s 50-day moving average price is $2.19 and its two-hundred day moving average price is $2.14. Otonomy has a fifty-two week low of $1.14 and a fifty-two week high of $2.59. The firm has a market cap of $118.40 million, a price-to-earnings ratio of -2.67 and a beta of 1.65.

About Otonomy (Get Rating)

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase II clinical trials to treat tinnitus; and OTO-413, a sustained-exposure formulation of brain-derived neurotrophic factor that is in Phase IIa clinical trials for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

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