Otonomy Inc. (OTIC) Stock Price Up 2.4%
Otonomy Inc. (NASDAQ:OTIC) shares rose 2.4% during mid-day trading on Monday . The company 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 a number of recent analyst reports. Piper Jaffray Cos. restated a “buy” rating and issued a $46.00 price target on shares of Otonomy in a research report on Monday, April 18th. WallachBeth Capital initiated coverage on shares of Otonomy in a research report on Thursday, May 26th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a research report on Saturday, May 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.33.
The stock’s 50-day moving average price is $15.22 and its 200-day moving average price is $14.90. The company’s market cap is $426.10 million.
A hedge fund recently raised its stake in Otonomy stock. Advisors Asset Management Inc. increased its stake in Otonomy Inc. (NASDAQ:OTIC) by 9.1% during the fourth quarter, according to its most recent 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 approximately 0.49% of Otonomy worth $3,296,000 as of its most recent SEC filing.
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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