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Otonomy, Inc. (NASDAQ:OTIC) Moves Into Potential Pullback Territory

11 November 2017, 07:05 | Silvia Roy

Biotech Here's What's Important For Otonomy Inc

Otonomy stocks biotech

Metropolitan Life Insurance Ny stated it has 0% of its portfolio in Otonomy Inc (NASDAQ:OTIC).

Otonomy (NASDAQ:OTIC) traded up $2.33 during trading hours on Thursday, hitting $5.13. Two analysts have issued estimates for Otonomy's earnings, with the highest EPS estimate coming in at ($0.59) and the lowest estimate coming in at ($0.87). Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company's stock worth $119,000 after purchasing an additional 746 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Otonomy in the 3rd quarter worth $263,000. Zacks' EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Otonomy.

For the current quarter, 4 analysts are projecting a mean EPS of $-0.76/share. Otonomy had a negative net margin of 7,899.03% and a negative return on equity of 57.33%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.43 million. The firm's revenue was down 12.8% compared to the same quarter previous year.

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Currently Otonomy Inc (NASDAQ:OTIC)'s shares owned by insiders are 0.29%, whereas shares owned by institutional owners are 80.3%. Finally, SunTrust Banks, Inc. restated a "buy" rating and issued a $15.00 price target (down previously from $45.00) on shares of Otonomy in a research report on Thursday, August 31st. The rating was downgraded by J.P. Morgan to "Hold" on Wednesday, August 30. Cowen and Company reissued an "outperform" rating and issued a $55.00 target price on shares of Otonomy in a report on Wednesday, August 23rd. On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. As per Monday, August 10, the company rating was upgraded by Bernstein.

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What Historical Figures Say About Otonomy, Inc. The stock had a trading volume of 27,963,306 shares, compared to its average volume of 798,076.

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Otonomy Inc (NASDAQ:OTIC) 52-week high price stands at $21.15 and low price stands at $2.80, its price distance from 52-week high is -86.76% while its distance from 52-week low price is 0%.

Several large investors have recently modified their holdings of the company. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 3.31% with $30.22 Million sitting short, betting on future declines. They now have a $8.00 price target on the biopharmaceutical company's stock. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company's stock worth $181,000 after purchasing an additional 981 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Otonomy by 10,065.2% in the second quarter. 1 were sells. Insider ownership decreased by a total of 108851 shares, which suggests that OTIC's key executives are feeling less optimistic about the outlook for the stock.

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