Before OTIC stock about the stock, let’s talk about the company. The biopharmaceutical business Otonomy, Inc. creates neurotology-related medications in the US. San Diego, California serves as the corporate headquarters for Otonomy, Inc., which was founded in 2008. The company provides OTO-413, a sustained-exposure preparation of brain-derived neurotrophic factor, which is in Phase IIa clinical trials for the treatment of speaking hearing difficulties.
And OTO-313, a prolonged formulation of the N-methyl-D-aspartate blocker gacyclidine, which is in Ii Clinical trials to treat tinnitus. Additionally, it creates OTO-510, an otoprotectant to stop hearing loss caused by cisplatin, OTO-825, a gene therapy to treat congenital hearing loss, and OTO-6XX, an inducer of hair cell regeneration to treat severe hearing loss. OTIC stock continue to exist in the market with these developments.
In order to develop and market gene therapy for congenital hearing loss, the company has license agreements with the University of California, DURECT Corporation, and Applied Genetic Technologies Corporation.
What Is OTO-413?
We can introduce one of these projects that affect OTIC stock in the projects carried out. The brain-derived neurotrophic factors (BDNF), a found naturally protein involved in neuron development and repair, is a patented, sustained-exposure formula that is used in OTO-413.
Local BDNF delivery has been shown to restore the connections connecting outer hair cells and hearing nerve fibers in the cochlear that have been harmed by sound trauma or exposure to ototoxic substances in nonclinical investigations. The industry survives with these improvements.
Furthermore, Otonomy has shown in preclinical research that the restoration of auditory function is connected to the repair of synaptic connections. Initial clinical investigations have shown that OTO-413 is well tolerated and enhances hearing performance in a number of clinically recognized speech-in-noise hearing tests after a single intratympanic injection.
Updates On The Otonomy Program And Corporate Activity
In a Phase 2 clinical trial in people with tinnitus, Otonomy reported that OTO-313 showed no clinically marked improvement versus placebo for both the primary and secondary endpoints. Based on these findings, Otonomy stopped working on OTO-313 and took additional steps to increase its cash runway.
These does include a labor reduction of about 55%, the majority of which was accomplished by the end of August. The clinical investigation of greater dosages of OTO-413 in people with hearing loss revealed no clinically significant improvement for participants from base across numerous speech-in-noise hearing tests, according to an announcement made by Otonomy in October 2022.
Following these findings, the corporation started evaluating strategic alternatives, including OTO-413 and OTO-825, to extract value from its pipeline. A merger, company combination, asset sale, wind-down, liquidation and dissolution, as well as other strategic transactions, could all be considered as strategic possibilities.
Who Are OTIC Competitors?
We can count the following companies. Our comparisons will continue. Rockwell Medical (RMTI), Cyclacel Pharmaceuticals (CYCC), Imunon (IMNN), Bio-Path (BPTH), Guardion Health Sciences (GHSI), Virpax Pharmaceuticals (VRPX), NexImmune (NEXI), Unicycive Therapeutics (UNCY), NLS Pharmaceutics (NLSP), and Kintara Therapeutics are some of Otonomy’s key rivals (KTRA). All of these businesses fall under the category of “pharmaceutical preparations.”
A beta of 1.02 indicates that Rockwell Medical’s stock price is 2% more unpredictable than the S&P 500. In contrast, Otonomy’s stock price is 19% more unpredictable than the S&P 500. According to its beta of 1.19. When compared by MarketBeat users, Otonomy received 46 more exceed votes than Rockwell Medical. Similarly, 63.08% of people voted for Otonomy to outperform, whereas just 59.27% of users chose Rockwell Medical.
Compared to Otonomy, Rockwell Medical has larger revenue and earnings. Shares in Otonomy are owned by institutions 80.1% of the time. Insiders of the business own 2.9% of the shares of Rockwell Medical. Comparatively, insiders of the firm own 9.1% of the shares of Otonomy. Endowments, big money managers, and hedge funds who own a significant portion of a stock typically do so because they feel it has the potential for long-term growth.
How Much Is OTIC Today?
OTIC stock is the ticker symbol used by Otonomy when trading on the NASDAQ. NASDAQ: OTIC stock can also be used to display Otonomy stock quotes. There are now 57,153,490 shares of Otonomy outstanding. The market capitalization of Otonomy stock, which is currently trading at $0.18 per share, is $10.23M.
On August 13, 2014, Otonomy stock went public at a price of $17.15. Your return over the last eight years would be -98.96%, for an annualized return of -43.46%, if you had purchased Otonomy stock at $17.15. Excluding any dividends or reinvestments of dividends.
Who Owns Otonomy?
49.97% of institutional shareholders, 27.94% company insiders, and 22.09% of retail investors own Otonomy (NASDAQ: OTIC). The largest individual stakeholder of Otonomy is Avalon Ventures Viii LP, which holds 2.97M shares, or 5.20% of the firm. Otonomy shares owned by Avalon Ventures Viii LP are presently valued at $531.76k.
It has a Zen Score of 18 overall. Here is a detailed analysis of the score. OTIC stock has a valuation score of 43, which is higher than the industry average for the biotechnology sector. Currently, OTIC stock is able to pass three of seven requirements for due diligence.
Financials: OTIC’s Capital markets score is 0, which is the same as the industry average for the biotechnology sector. Right now, OTIC stock is failing 0 of 7 criteria for due diligence. OTIC’s forecast score is 0, that is the same as the mean for the biotechnology sector. OTIC is presently failing 0 of 9 criteria for due diligence.
Performance of Otonomy Fundamentals: OTIC stock has a Performance score of 29, which is higher than the industry average for biotechnology. Currently, just two out of ten due diligence checks are passing for OTIC stock. Dividend: Since Otonomy seems to have no recent history of dividend payments, we do not assign a score to this category.
How Do I Purchase Otonomy Stock?
Determine where to purchase Otonomy stock: You must select an online broker. Register for a brokerage account. The best spot to purchase OTIC stock is here. your investing account with the money: Select a payment option, then enter your information. Examine the Otonomy stock. To place an OTIC stock.
Choose whether you want to buy OTIC shares at the market price or at a specific price using a limit order. Analyze your OTIC stock posture frequently: Make a watchlist of important updates regarding your Otonomy stock investment.
What Is The Market Cap Of Otonomy?
As of Dec.1, 2022, Otonomy’s market capitalization was $10.23M. The total selling price of a publicly listed company’s outstanding shares is known as market cap (market capitalization). The market capitalization of Otonomy is computed by dividing the $0.18 share price of OTIC by the 57,153,490 shares that are currently in circulation.
The 52 week high and low of Otonomy were $2.59 and $0.07, respectively. It is currently 152.11% higher than its 52 week low and -93.09% lower than its 52 week high.
A Good Time To Buy Otonomy Stock In 2022?
Three Wall Street analysts that follow the (NASDAQ: OTIC) stock have come to the conclusion that it should be held.
Out of 3 experts, 0 (%) are suggesting OTIC as just a Strong Buy, 1 (33.33%) are suggesting OTIC as a Buy, 2 (66.67%) are advising OTIC as a Hold, 0 (%) are advising OTIC as a Sell, and 0 (%) are suggesting OTIC as a Strong Sell.
Financial Strength Of OTIC
On the balance sheet of OTIC, short-term assets outnumber long-term liabilities. On the balance sheet of OTIC, short-term assets outnumber short-term liabilities. Indications that OTIC’s finances are unsound. OTIC has $40.85M in short-term investments and cash.
This is insufficient to fund its $47.15 million yearly cash burn. In comparison to shareholder equity, total OTIC debt is larger than it was five years ago. OTIC has a ratio of debt to equity of 1.69, which is comparatively high. OTIC has a 47147000 dollar cash burn. It lacks the liquidity and short-term investments necessary to cover this.
What Is The Price Target Of OTIC?
Two Wall Street experts have predicted prices for OTIC for the next year; the average price target for OTIC is $3.25, with the greatest price target being $6.00 and the lowest being $0.50.
By October 13, 2023, on average, Wall Street analysts expect Otonomy’s share price to reach $3.25. According to the consensus Otonomy stock projection, the price of OTIC stock might rise by 1,715.64% from its current price of $0.18.
What Is The OTIC’s Growth Prediction?
Otonomy’s projected yearly income growth rate of N/A is not expected to surpass the average predicted earnings growth rate of 7.84% for the US biotechnology industry, nor is it expected to surpass the average OTIC stock forecast cash growth rate of 16.59% for the US market. Otonomy will make -$52,260,000 in 2022. OTIC’s profits for 2022 are expected to be, on average, -$41,722,048 by 3 Wall Street analysts, with the lowest estimate being -$45,722,792 and the highest estimate being -$37,149,769.
How Much Money Did OTIC Make The Last Quarter?
Otonomy (NASDAQ: OTIC) announced Q3 2022 earnings per share (EPS) of -$0.18, up 5.26% from the previous year, on November 9, 2022. Otonomy reported a total loss of $12.05 million for the quarter. Otonomy’s earnings per share (EPS) for the same quarter last year were negative $0.19.
Otonomy’s sales increased -100% year over year as of Q4 2022. This is 219,28% less than the 119.28% revenue growth rate for the US biotechnology industry. The yearly income for Otonomy was $0.00. Otonomy’s profits increased year over year as of Q4 2022. Otonomy made a total loss of $52.26 million last year.
Should I Invest In OTIC?
Since the price of Otonomy stock has been trending downward, we assume that similar segmentations were not very well-liked during the time frame. Our prediction method projects the stock’s future price to be $0 (-100%) after a year.
As a result, if you paid $100 today, your investment could be worth nothing on December 1, 2023. This indicates that you shouldn’t add this stock to your portfolio because trading in market downturns is always more difficult, especially for novice traders.
OTIC Forecast 2023
With the lowest OTIC earnings projection at -$48,580,467. And the highest OTIC stock forecast at -$22,289,861, three Wall Street analysts expect OTIC will make -$33,149,024 in 2023.
With the lowest OTIC revenue prognosis at $21,718,326, and the greatest OTIC stock forecast at $21,718,326 on average, 1 Wall Street analysts expect OTIC to generate $21,718,326 in sales in 2023.
OTIC’s EPS is expected to be -$0.58 on average for 2023, the with lowest estimate coming in at -$0.85 and the highest at -$0.39.
OTIC Forecast 2024
OTIC is anticipated to earn -$19,432,187 in 2024, with the lowest earnings estimate coming in at -$24,004,466 and the highest at -$14,859,907.
OTIC is anticipated to earn $24,004,466 in revenue in 2024, with the $24,004,466 serving as both the lowest and greatest revenue projections. OTIC’s EPS is anticipated to drop to -$0.34 in 2024 (minimum: -$0.42, maximum: -$0.26).
OTIC Forecast 2026
The average Otonomy stock projection for 2026 is $1.04, with the high predictions of $1.11 and low OTIC stock forecast of $0.95. There are 12 OTIC stock forecast made for every month of 2026.
A 478.59% increase from the most recent price of $0.179399996995926 is projected for the average Otonomy stock estimate for 2026.
OTIC Forecast 2028
Twelve OTIC stock forecast are made to every month of 2028 for the OTIC stock forecast for 2028 (5 years), with an average prognosis of $0.99, a high prediction of $1.04, and a low prediction of $0.97.
The typical OTIC stock forecast for 2028 shows a growth of 449.89% from the most recent price of $0.179399996995926.
OTIC Forecast 2031
The average OTIC stock forecast for 2031 is $1.01, with high predictions of $1.07 and low OTIC stock forecast of $0.93. There are 12 OTIC stock forecast made for each month of 2031.
When compared to the most recent price of $0.179399996995926, the average OTIC stock forecast for 2031 shows a 462.23% growth.