Is Otonomy Inc. (OTIC) a good stock to buy now?

Otonomy Inc. (NASDAQ: OTIC) is -2.35% lower on its value in year-to-date trading and has touched a low of $1.53 and a high of $4.39 in the current 52-week trading range. The OTIC stock was last observed hovering at around $3.74 in the last trading session, with the day’s gains setting it 0.44% off its average median price target of $9.00 for the next 12 months. It is also 62.0% off the consensus price target high of $11.00 offered by 5 analysts, but current levels are 47.75% higher than the price target low of $8.00 for the same period.

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Currently trading at $4.18, the stock is 14.05% and 15.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.13 million and changing 11.76% at the moment leaves the stock 42.75% off its SMA200. OTIC registered 67.71% gain for a year compared to 6-month gain of 3.31%. The firm has a 50-day simple moving average (SMA 50) of $3.7273 and a 200-day simple moving average (SMA200) of $2.9474.

The stock witnessed a -9.22% loss in the last 1 month and extending the period to 3 months gives it a 51.42%, and is 15.43% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.55% over the week and 8.05% over the month.

Otonomy Inc. (OTIC) has around 49 employees, a market worth around $181.99M and $0.40M in sales. Distance from 52-week low is 173.20% and -4.78% from its 52-week high. The company has generated returns on investments over the last 12 months (-81.00%).

Otonomy Inc. (OTIC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Otonomy Inc. (OTIC) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 1.80, where 0 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Otonomy Inc. is expected to release its quarterly report on 11/10/2020 and quarterly earnings per share for the current quarter are estimated at -$0.24 with sales reaching $50k over the same period.The EPS is expected to grow by 11.60% this year, but quarterly earnings will post 20.00% year-over-year. Quarterly sales are estimated to shrink -60.00% in year-over-year returns.

Otonomy Inc. (OTIC) Top Institutional Holders

55 institutions hold shares in Otonomy Inc. (OTIC), with 170.24k shares held by insiders accounting for 0.35% while institutional investors hold 63.67% of the company’s shares. The shares outstanding are 48.23M, and float is at 45.61M with Short Float at 0.63%. Institutions hold 63.45% of the Float.

The top institutional shareholder in the company is Tpg Group Holdings (sbs) Advisors, Inc. with over 2.16 million shares valued at $7.82 million. The investor’s holdings represent 4.48% of the OTIC Shares outstanding. As of Jun 29, 2020, the second largest holder is Renaissance Technologies, LLC with 1.85 million shares valued at $6.7 million to account for 3.84% of the shares outstanding. The other top investors are Sofinnova Investments, Inc. which holds 1.65 million shares representing 3.42% and valued at over $5.98 million, while Vanguard Group, Inc. (The) holds 2.92% of the shares totaling 1.41 million with a market value of $5.09 million.

Otonomy Inc. (OTIC) Insider Activity

A total of 0 insider transactions have happened at Otonomy Inc. (OTIC) in the last six months, with sales accounting for 0 and purchases happening 0 times.

Otonomy Inc. (OTIC): Who are the competitors?

The company’s main competitors (and peers) include Applied Genetic Technologies Corporation (AGTC) that is trading 90.58% up over the past 12 months. Akebia Therapeutics Inc. (AKBA) is 126.81% up on the 1-year trading charts. Short interest in the company’s stock has risen 37.55% from the last report on Jun 29, 2020 to stand at a total of 0.18 million short shares sold with a short interest ratio of 0.43.

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