Price Change to Note: Is Buying Otonomy Inc Here a Winning Strategy?

Price Change to Note: Is Buying Otonomy Inc Here a Winning Strategy?

The stock of Otonomy Inc (NASDAQ:OTIC) is a huge mover today! The stock increased 5.39% or $0.93 during the last trading session, hitting $18.19. About 198,604 shares traded hands or 34.67% up from the average. Otonomy Inc (NASDAQ:OTIC) has risen 25.89% since February 26, 2016 and is uptrending. It has outperformed by 15.47% the S&P500.
The move comes after 5 months positive chart setup for the $554.87 million company. It was reported on Oct, 1 by We have $27.65 PT which if reached, will make NASDAQ:OTIC worth $288.53 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 rating was initiated by WallachBeth Capital on Thursday, May 26 with “Buy”. The company was initiated on Thursday, August 13 by JP Morgan. The firm earned “Outperform” rating on Monday, August 10 by Bernstein.

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 2016 Q2. Its down 0.77, from 2.25 in 2016Q1. The ratio worsened, 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.
Moreover, Teachers has 0% invested in Otonomy Inc (NASDAQ:OTIC) for 38,884 shares. Deutsche State Bank Ag last reported 85,335 shares in the company. State Street last reported 0% of its portfolio in the stock. Schwab Charles Mngmt holds 0% or 38,439 shares in its portfolio. Fred Alger Management Incorporated holds 23,150 shares or 0% of its portfolio. Barclays Pcl owns 5,488 shares or 0% of their US portfolio. Pnc Fincl Serv Inc accumulated 5,174 shares or 0% of the stock. Blackrock Fund Advisors has invested 0% of its portfolio in Otonomy Inc (NASDAQ:OTIC). New York State Common Retirement Fund reported 18,200 shares or 0% of all its holdings. Cubist Systematic Strategies Ltd Liability Corporation last reported 0% of its portfolio in the stock. Intll Gru has 13,835 shares for 0% of their US portfolio. Natl Bank Of America De holds 0% of its portfolio in Otonomy Inc (NASDAQ:OTIC) for 80,636 shares. Goldman Sachs Group Inc, a New York-based fund reported 383,331 shares. Clough Partners Lp holds 0.29% of its portfolio in Otonomy Inc (NASDAQ:OTIC) for 342,303 shares. Blackrock Institutional Tru Company Na holds 0% of its portfolio in Otonomy Inc (NASDAQ:OTIC) for 533,864 shares.

Insider Transactions: Since September 6, 2016, the stock had 0 insider buys, and 1 insider sale for $381,438 net activity. LeBel Carl sold 21,250 shares worth $381,438.

More notable recent Otonomy Inc (NASDAQ:OTIC) news were published by: which released: “Otonomy Announces FDA Approval of OTIPRIO(TM) for the Treatment of Pediatric …” on December 11, 2015, also with their article: “Otonomy to Host Investor and Analyst Day on October 7, 2016” published on September 29, 2016, published: “Otonomy Raises $49 Million in Oversubscribed Financing” on April 30, 2014. More interesting news about Otonomy Inc (NASDAQ:OTIC) were released by: and their article: “Otonomy Reports Second Quarter 2016 Financial Results and Provides Corporate …” published on August 04, 2016 as well as‘s news article titled: “Otonomy Completes $45.9 Million Series C Equity Financing” with publication date: September 04, 2013.

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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