Otonomy Inc. (OTIC) Trading Up 2.1%
Otonomy Inc. (NASDAQ:OTIC) was up 2.1% during mid-day trading on Friday . The company traded as high as $16.17 and last traded at $16.01, with a volume of 143,612 shares. The stock had previously closed at $15.68.
A number of equities research analysts recently issued reports on OTIC shares. Piper Jaffray Cos. reissued an “overweight” rating and set a $42.00 price target (down previously from $46.00) on shares of Otonomy in a research report on Tuesday, May 10th. Zacks Investment Research downgraded Otonomy from a “hold” rating to a “sell” rating in a research report on Friday, May 13th. Finally, WallachBeth Capital started coverage on Otonomy in a research report on Thursday, May 26th. They set a “buy” rating and a $29.00 price target on the stock.
The firm’s 50 day moving average price is $15.53 and its 200 day moving average price is $15.03. The firm’s market cap is $482.99 million.
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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