In the last trading session, 1,056,239 shares of the Otonomy, Inc.(NASDAQ:OTIC) were traded, and its beta was 2.22. Most recently the company’s share price was $5.39, and it changed around $0.04 or 0.01% from the last close, which brings the market valuation of the company to $260.44 Million. OTIC currently trades at a discount to its 52-week high of $6.98, offering almost -29.5% off that amount. The share price’s 52-week low was $1.53, which indicates that the current value has risen by an impressive 71.61% since then. We note from Otonomy, Inc.’s average daily trading volume that its 10-day average is 1.16 Million shares, with the 3-month average coming to 671.69 Million.
Otonomy, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended OTIC as a Hold, whereas 5 deemed it a Buy, and no one rated it as Underweight. Otonomy, Inc. is expected to report earnings per share of -$0.21 for the current quarter.
Otonomy, Inc. (NASDAQ:OTIC): Trading Information
Instantly OTIC has showed a green trend with a performance of 0.75% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $5.73- on Wednesday, Feb 17 increased the stock’s daily price by 5.93%. The company’s shares are currently down -0.17% year-to-date, but still up 0.0075 over the last five days. On the other hand, Otonomy, Inc. (NASDAQ:OTIC) is 0.04% up in the 30-day period. We can see from the shorts that 1.47 Million shares have been sold at a short interest cover period of 0 day(s).
The consensus price target as assigned by Wall Street analysts is $10.8, which translates to bears needing to increase their stock price by 100.37% from its current value. Analyst projections state that OTIC is forecast to be at a low of $9 and a high of $13. In order for the stock price to hit the forecast high, the stock would need to surge +141.19% from its current level, while the stock would need to crash 66.98% from its current level to reach the projected low.
Otonomy, Inc. (OTIC) projections and forecasts
Otonomy, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +23.62 percent over the past six months and at a -8.18% annual growth rate that is well below the industry average of 17.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +44.7% in revenue this quarter, and will report an increase of 35.1% in the next quarter. The year-over-year growth rate is expected to be 665.6%, up from the previous year.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.7%. Otonomy, Inc. earnings are expected to increase by 24.7% in 2021, but the outlook is positive 20.4% per year for the next five years.
Otonomy, Inc. (NASDAQ:OTIC)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.25% of Otonomy, Inc. shares, and 77.21% of them are in the hands of institutional investors. The stock currently has a share float of 77.4%. Otonomy, Inc. stock is held by 74 institutions, with Federated Hermes, Inc. being the largest institutional investor. By Sep 29, 2020, it held 8.15% of the shares, which is about 3.93 Million shares worth $15.92 Million.
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Orbimed Advisors LLC., with 6.74% or 3.25 Million shares worth $13.16 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.