Otonomy Inc (NASDAQ:OTIC) Expected to Announce Quarterly Sales of $310,000.00

Brokerages expect Otonomy Inc (NASDAQ:OTIC) to post $310,000.00 in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Otonomy’s earnings. The highest sales estimate is $500,000.00 and the lowest is $120,000.00. Otonomy reported sales of $110,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 181.8%. The business is scheduled to issue its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that Otonomy will report full-year sales of $1.31 million for the current financial year, with estimates ranging from $620,000.00 to $2.00 million. For the next fiscal year, analysts expect that the business will post sales of $3.20 million, with estimates ranging from $400,000.00 to $6.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Otonomy.

Otonomy (NASDAQ:OTIC) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.10. Otonomy had a negative net margin of 6,984.64% and a negative return on equity of 65.91%. The company had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.50 million.

Several equities research analysts recently issued reports on OTIC shares. Zacks Investment Research upgraded shares of Otonomy from a “hold” rating to a “strong-buy” rating and set a $2.50 target price for the company in a research note on Thursday. ValuEngine upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, HC Wainwright started coverage on shares of Otonomy in a research note on Thursday, August 29th. They issued a “buy” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $5.17.

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in Otonomy by 31.6% in the 1st quarter. Acadian Asset Management LLC now owns 119,044 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 28,551 shares during the period. Man Group plc raised its holdings in Otonomy by 4.5% in the 2nd quarter. Man Group plc now owns 150,640 shares of the biopharmaceutical company’s stock valued at $414,000 after acquiring an additional 6,500 shares during the period. Eversept Partners LP raised its holdings in Otonomy by 8.0% in the 2nd quarter. Eversept Partners LP now owns 194,429 shares of the biopharmaceutical company’s stock valued at $535,000 after acquiring an additional 14,329 shares during the period. BlackRock Inc. raised its holdings in Otonomy by 1.0% in the 2nd quarter. BlackRock Inc. now owns 844,466 shares of the biopharmaceutical company’s stock valued at $2,322,000 after acquiring an additional 8,148 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Otonomy by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,176,798 shares of the biopharmaceutical company’s stock valued at $3,236,000 after acquiring an additional 5,768 shares during the period. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:OTIC traded down $0.03 during mid-day trading on Thursday, hitting $2.15. The stock had a trading volume of 8,918 shares, compared to its average volume of 68,086. Otonomy has a twelve month low of $1.50 and a twelve month high of $3.15. The stock has a market cap of $67.03 million, a price-to-earnings ratio of -1.30 and a beta of 2.51. The company’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $2.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 7.32 and a current ratio of 7.32.

Otonomy Company Profile

Otonomy, Inc, a biopharmaceutical company, develops therapeutics for neurotology in the United States. The company offers OTIPRIO, a ciprofloxacin otic suspension for use during tympanostomy tube placement surgery in pediatric patients. It also develops OTIVIDEX, a sustained-exposure formulation of the steroid dexamethasone in Phase III clinical trial for the treatment of Ménière's disease; OTO-313, a sustained-exposure formulation of N-methyl-D-aspartate receptor antagonist gacyclidine, which is in Phase I/II clinical trial to treat tinnitus; and OTO-413, a proprietary formulation of brain-derived neurotrophic factor that is in Phase I/II clinical trial for the repair of cochlear synaptopathy and the treatment of speech-in-noise hearing difficulties.

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