Otonomy Inc. (OTIC) Stock Price Up 2.4%
Otonomy Inc. (NASDAQ:OTIC)’s share price rose 2.4% during trading on Monday . The stock traded as high as $15.13 and last traded at $14.70, with a volume of 120,313 shares traded. The stock had previously closed at $14.36.
OTIC has been the topic of several research analyst reports. Piper Jaffray Cos. reissued a “buy” rating and issued a $46.00 target price on shares of Otonomy in a report on Monday, April 18th. WallachBeth Capital initiated coverage on shares of Otonomy in a report on Thursday, May 26th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Zacks Investment Research raised shares of Otonomy from a “sell” rating to a “hold” rating in a report on Saturday, May 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Otonomy currently has an average rating of “Buy” and an average target price of $30.33.
The firm’s market cap is $444.17 million. The stock’s 50 day moving average price is $15.25 and its 200-day moving average price is $14.99.
A hedge fund recently raised its stake in Otonomy stock. Advisors Asset Management Inc. boosted its position in Otonomy Inc. (NASDAQ:OTIC) by 9.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 118,779 shares of the biopharmaceutical company’s stock after buying an additional 9,872 shares during the period. Advisors Asset Management Inc. owned 0.49% of Otonomy worth $3,296,000 as of its most recent filing with the SEC.
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 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.
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