Zacks: Analysts Anticipate Otonomy, Inc. (NASDAQ:OTIC) Will Post Quarterly Sales of $70,000.00

Equities analysts expect that Otonomy, Inc. (NASDAQ:OTIC) will post $70,000.00 in sales for the current quarter, Zacks reports. Two analysts have made estimates for Otonomy’s earnings. The highest sales estimate is $80,000.00 and the lowest is $50,000.00. Otonomy reported sales of $50,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 40%. The firm is expected to issue its next earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that Otonomy will report full year sales of $230,000.00 for the current year, with estimates ranging from $130,000.00 to $320,000.00. For the next fiscal year, analysts expect that the company will post sales of $350,000.00. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Otonomy.

Otonomy (NASDAQ:OTIC) last issued its quarterly earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.07 million. Otonomy had a negative return on equity of 67.24% and a negative net margin of 20,278.95%.

Separately, Zacks Investment Research cut shares of Otonomy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 10th.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in shares of Otonomy during the 1st quarter valued at $40,000. Quantitative Systematic Strategies LLC purchased a new position in Otonomy in the 1st quarter worth approximately $43,000. Walleye Trading LLC purchased a new position in shares of Otonomy during the first quarter valued at approximately $53,000. Cubist Systematic Strategies LLC increased its stake in shares of Otonomy by 88.4% during the second quarter. Cubist Systematic Strategies LLC now owns 23,616 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 11,084 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Otonomy during the second quarter valued at approximately $54,000. Institutional investors own 63.03% of the company’s stock.

Shares of NASDAQ OTIC traded up $0.02 during trading hours on Friday, hitting $1.60. 411 shares of the stock were exchanged, compared to its average volume of 675,517. The company has a debt-to-equity ratio of 0.20, a current ratio of 11.25 and a quick ratio of 11.25. Otonomy has a one year low of $1.14 and a one year high of $6.98. The company’s 50 day moving average is $1.64 and its 200 day moving average is $2.14. The firm has a market capitalization of $90.69 million, a P/E ratio of -1.88 and a beta of 2.00.

About Otonomy

Otonomy, Inc operates as a biopharmaceutical company. It engages in the development of therapeutics for neurotology. The firm’s product pipeline includes OTIVIDEX (dexamethasone) Meniere’s disease, OTIPRIO (ciprofloxacin otic suspension) acute otitis media with tubes (AOMT), OTO-313 (gacyclidine) tinnitus, OTO-413 (BDNF) hidden hearing Loss, OTO-510 (otoprotectant) prevent CIHL, OTO-6XX (hair cell regeneration) severe hearing loss.

Featured Story: How can investors invest in the Euro STOXX 50 Index?

Get a free copy of the Zacks research report on Otonomy (OTIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Otonomy (NASDAQ:OTIC)

Receive News & Ratings for Otonomy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otonomy and related companies with MarketBeat.com's FREE daily email newsletter.