Traders Purchase High Volume of Otonomy Call Options (OTIC)

Otonomy, Inc. (NASDAQ:OTIC) was the recipient of some unusual options trading on Friday. Stock traders acquired 5,589 call options on the stock. This is an increase of approximately Infinity compared to the average volume of 0 call options.

Shares of Otonomy (NASDAQ:OTIC) opened at $5.25 on Wednesday. Otonomy has a fifty-two week low of $2.80 and a fifty-two week high of $21.15.

Otonomy (NASDAQ:OTIC) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.15. Otonomy had a negative return on equity of 60.74% and a negative net margin of 7,899.03%. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.43 million. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. analysts predict that Otonomy will post -3 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in OTIC. SG Americas Securities LLC bought a new stake in shares of Otonomy in the second quarter worth about $115,000. Legal & General Group Plc grew its holdings in shares of Otonomy by 13.3% during the second quarter. Legal & General Group Plc now owns 6,348 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 746 shares in the last quarter. Lakeview Capital Partners LLC bought a new position in shares of Otonomy during the third quarter worth about $120,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Otonomy during the third quarter worth about $126,000. Finally, American International Group Inc. grew its holdings in shares of Otonomy by 7.1% during the first quarter. American International Group Inc. now owns 14,800 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 981 shares in the last quarter. Institutional investors own 78.12% of the company’s stock.

Several equities analysts have weighed in on OTIC shares. SunTrust Banks, Inc. reissued a “buy” rating and issued a $15.00 target price (down previously from $45.00) on shares of Otonomy in a research note on Thursday, August 31st. Zacks Investment Research raised Otonomy from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Tuesday. Piper Jaffray Companies reissued a “hold” rating and issued a $8.00 target price on shares of Otonomy in a research note on Friday, November 10th. BidaskClub lowered Otonomy from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, J P Morgan Chase & Co lowered Otonomy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $28.00 to $8.00 in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Otonomy has an average rating of “Hold” and a consensus price target of $9.15.

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About Otonomy

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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