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Analyst Explains Why They Downgraded Their Rating on Otonomy (OTIC)

H.C. Wainwright analyst Oren Livnat downgraded Otonomy (OTICResearch Report) to Hold today. The company’s shares closed last Monday at $0.29, close to its 52-week low of $0.29.

According to TipRanks.com, Livnat has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -3.8% and a 39.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Verrica Pharmaceuticals, and Satsuma Pharmaceuticals.

The the analyst consensus on Otonomy is currently a Moderate Buy rating.

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The company has a one-year high of $2.59 and a one-year low of $0.29. Currently, Otonomy has an average volume of 619K.

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Otonomy, Inc. is a biopharmaceutical company, which engages in the development of therapeutics for neurotology. The firm’s product pipeline includes OTIVIDEX (dexamethasone) Ménière’s disease; OTIPRIO (ciprofloxacin otic suspension) acute otitis media with tubes (AOMT); OTO-313 (gacyclidine) tinnitus; OTO-413 (BDNF) hidden hearing Loss; OTO-510 (otoprotectant) prevent CIHL; OTO-6XX (hair cell regeneration) severe hearing loss. It operates under the Otiprio brand. The company was founded by Jay B. Lichter, Jeffrey Harris, Rick Friedman, and Allen F. Ryan in April 2008 and is headquartered in San Diego, CA.

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