Price Action Don’t Lie: Could Otonomy Inc Rise Even More? The Stock Had Another Big Increase Today

Price Action Don't Lie: Could Otonomy Inc Rise Even More? The Stock Had Another Big Increase Today

The stock of Otonomy Inc (NASDAQ:OTIC) is a huge mover today! The stock increased 6.59% or $0.9 during the last trading session, hitting $14.55. About 136,603 shares traded hands or 7.89% up from the average. Otonomy Inc (NASDAQ:OTIC) has declined 14.79% since April 5, 2016 and is downtrending. It has underperformed by 16.75% the S&P500.
The move comes after 6 months positive chart setup for the $437.50 million company. It was reported on Nov, 7 by Barchart.com. We have $37.10 PT which if reached, will make NASDAQ:OTIC worth $678.13 million more.

Analysts await Otonomy Inc (NASDAQ:OTIC) to report earnings on November, 8. They expect $-0.97 earnings per share, down 46.97% or $0.31 from last year’s $-0.66 per share. After $-0.98 actual earnings per share reported by Otonomy Inc for the previous quarter, Wall Street now forecasts -1.02% EPS growth.

Otonomy Inc (NASDAQ:OTIC) Ratings Coverage

Out of 2 analysts covering Otonomy (NASDAQ:OTIC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Otonomy has been the topic of 3 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, May 26 by WallachBeth Capital. The firm has “Outperform” rating given on Monday, August 10 by Bernstein. JP Morgan initiated the shares of OTIC in a report on Thursday, August 13 with “Hold” rating.

According to Zacks Investment Research, “Otonomy, Inc. engages in developing and commercializing therapeutics to address unmet medical needs in the otology market. It develops therapeutics for treatment of inner and middle ear disorders. The Company’s product candidates under development includes AuriPro to treat pediatric patients with middle ear effusion; and OTO-104 for the treatment of patients with Ménière’s disease. Otonomy, Inc. is headquartered in San Diego, California.”

Insitutional Activity: The institutional sentiment decreased to 1.48 in Q2 2016. Its down 0.77, from 2.25 in 2016Q1. The ratio fall, as 13 funds sold all Otonomy Inc shares owned while 18 reduced positions. 7 funds bought stakes while 39 increased positions. They now own 25.98 million shares or 0.23% less from 26.04 million shares in 2016Q1.
Point72 Asset Mngmt Ltd Partnership last reported 1,700 shares in the company. Ubs Oconnor Ltd Liability Corp holds 0% of its portfolio in Otonomy Inc (NASDAQ:OTIC) for 37,920 shares. The New York-based Amici Capital Ltd Liability Co has invested 1.31% in Otonomy Inc (NASDAQ:OTIC). Blackrock Institutional Tru Na reported 533,864 shares or 0% of all its holdings. Bnp Paribas Arbitrage has 949 shares for 0% of their US portfolio. Federated Investors Inc Pa holds 0.19% or 4.01M shares in its portfolio. Advsrs Asset Mgmt Incorporated holds 0.02% of its portfolio in Otonomy Inc (NASDAQ:OTIC) for 85,932 shares. Moreover, Nationwide Fund has 0% invested in Otonomy Inc (NASDAQ:OTIC) for 36,529 shares. Alliancebernstein Limited Partnership reported 651,913 shares or 0.01% of all its holdings. Clough Cap Lp last reported 0.29% of its portfolio in the stock. The New York-based Teachers Advsr has invested 0% in Otonomy Inc (NASDAQ:OTIC). Northern, a Illinois-based fund reported 299,684 shares. Columbus Circle Invsts reported 28,666 shares or 0% of all its holdings. Fred Alger Mgmt holds 0% or 23,150 shares in its portfolio. Rhumbline Advisers has 0% invested in the company for 26,879 shares.

Insider Transactions: Since September 6, 2016, the stock had 0 buys, and 1 sale for $381,438 net activity. Another trade for 21,250 shares valued at $381,438 was sold by LeBel Carl.

More recent Otonomy Inc (NASDAQ:OTIC) news were published by: Seekingalpha.com which released: “Otonomy’s (OTIC) CEO David Weber on Q3 2016 Results – Earnings Call Transcript” on November 07, 2016. Also Globenewswire.com published the news titled: “Otonomy Announces FDA Approval of OTIPRIO(TM) for the Treatment of Pediatric …” on December 11, 2015. Globenewswire.com‘s news article titled: “Otonomy to Host Investor and Analyst Day on October 7, 2016” with publication date: September 29, 2016 was also an interesting one.

OTIC Company Profile

Otonomy, Inc., incorporated on May 6, 2008, is a biopharmaceutical company. The Firm focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Firm has developed a technology referred to as sustained-exposure that is designed to deliver drug that is retained in the ear for an extended period of time following a local administration. The Company’s product candidates include OTIPRIO, OTO-104 and OTO-311.

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