Otonomy, Inc. (NASDAQ:OTIC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $20.25 and last traded at $20.25, with a volume of 335,108 shares traded. The stock had previously closed at $18.75.

Several equities research analysts have recently issued reports on OTIC shares. BidaskClub cut shares of Otonomy from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. J P Morgan Chase & Co upgraded shares of Otonomy from a “neutral” rating to an “overweight” rating and set a $28.00 price target on the stock in a research note on Tuesday, August 15th. Zacks Investment Research upgraded shares of Otonomy from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Piper Jaffray Companies initiated coverage on shares of Otonomy in a research note on Friday, June 2nd. They set an “overweight” rating and a $32.00 price target on the stock.

The company’s market cap is $613.64 million. The company has a 50 day moving average of $18.58 and a 200 day moving average of $15.08.

Otonomy (NASDAQ:OTIC) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.77) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.03. The firm had revenue of $0.33 million for the quarter, compared to the consensus estimate of $0.43 million. Otonomy had a negative net margin of 8,172.38% and a negative return on equity of 57.43%. The firm’s revenue was up 312.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.98) EPS. Equities research analysts predict that Otonomy, Inc. will post ($3.36) earnings per share for the current fiscal year.

In other Otonomy news, insider Eric J. Loumeau sold 3,522 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $18.59, for a total transaction of $65,473.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Otonomy by 28.9% in the first quarter. Wellington Management Group LLP now owns 4,211,357 shares of the biopharmaceutical company’s stock worth $51,590,000 after buying an additional 944,663 shares during the period. Vanguard Group Inc. boosted its stake in Otonomy by 8.8% in the first quarter. Vanguard Group Inc. now owns 1,004,584 shares of the biopharmaceutical company’s stock worth $12,306,000 after buying an additional 81,050 shares during the period. Kingdon Capital Management L.L.C. boosted its stake in Otonomy by 27.9% in the first quarter. Kingdon Capital Management L.L.C. now owns 773,693 shares of the biopharmaceutical company’s stock worth $9,478,000 after buying an additional 168,833 shares during the period. Schroder Investment Management Group boosted its stake in Otonomy by 37.5% in the first quarter. Schroder Investment Management Group now owns 763,368 shares of the biopharmaceutical company’s stock worth $9,351,000 after buying an additional 208,221 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Otonomy by 8.7% in the second quarter. Alliancebernstein L.P. now owns 672,876 shares of the biopharmaceutical company’s stock worth $12,684,000 after buying an additional 54,080 shares during the period. 88.46% of the stock is currently owned by institutional investors.

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Otonomy Company Profile

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’s product candidates include OTIPRIO, OTO-104 and OTO-311. OTIPRIO is a single-dose, physician-administered antibacterial, which is used for the treatment of pediatric patients with bilateral otitis media with effusion undergoing tympanostomy tube placement (TTP) surgery and is available for commercial purchase.

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