Otonomy, Inc. (OTIC) Upgraded to Hold by Zacks Investment Research
According to Zacks, “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. “
Separately, Piper Jaffray Companies reissued a buy rating and set a $32.00 target price on shares of Otonomy in a research note on Wednesday, November 2nd.
Otonomy (NASDAQ:OTIC) traded up 0.90% on Thursday, reaching $16.75. The company had a trading volume of 69,599 shares. The company’s 50-day moving average price is $16.86 and its 200 day moving average price is $16.49. Otonomy has a 1-year low of $10.50 and a 1-year high of $19.49. The firm’s market capitalization is $505.75 million.
In other news, insider Carl Lebel sold 10,625 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $18.07, for a total transaction of $191,993.75. Following the sale, the insider now directly owns 13,001 shares of the company’s stock, valued at approximately $234,928.07. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 17.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Otonomy by 4.3% in the third quarter. BlackRock Inc. now owns 5,849 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 240 shares during the period. BlackRock Group LTD increased its position in Otonomy by 4.0% in the third quarter. BlackRock Group LTD now owns 6,089 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 234 shares during the period. Creative Planning increased its position in Otonomy by 411.4% in the third quarter. Creative Planning now owns 6,648 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 5,348 shares during the period. Emerald Acquisition Ltd. bought a new position in Otonomy during the second quarter valued at $153,000. Finally, Morgan Stanley increased its position in Otonomy by 67.0% in the third quarter. Morgan Stanley now owns 9,191 shares of the biopharmaceutical company’s stock valued at $167,000 after buying an additional 3,687 shares during the period. 84.12% of the stock is currently owned by institutional investors and hedge funds.
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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