Otonomy (OTIC) Earns Daily News Impact Score of 0.07

Media coverage about Otonomy (NASDAQ:OTIC) has trended somewhat positive on Thursday, Accern Sentiment reports. The research group identifies positive and negative media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Otonomy earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave news stories about the biopharmaceutical company an impact score of 45.6304619441187 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Otonomy (NASDAQ:OTIC) remained flat at $$5.05 during midday trading on Thursday. The company had a trading volume of 361,800 shares, compared to its average volume of 805,125. Otonomy has a one year low of $2.80 and a one year high of $21.15.

Otonomy (NASDAQ:OTIC) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.84) by $0.15. The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.43 million. Otonomy had a negative return on equity of 60.74% and a negative net margin of 7,899.03%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. analysts forecast that Otonomy will post -2.88 earnings per share for the current year.

A number of brokerages have recently issued reports on OTIC. Piper Jaffray Companies cut Otonomy from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $8.00 in a report on Wednesday, August 30th. Cowen reiterated an “outperform” rating and set a $55.00 target price on shares of Otonomy in a report on Wednesday, August 23rd. ValuEngine cut Otonomy from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Otonomy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, J P Morgan Chase & Co cut Otonomy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $8.00 in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.15.

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Otonomy Company Profile

Otonomy, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutics for diseases and disorders of the ear. The Company’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.

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