Otonomy Inc (OTIC) was Initiated by WallachBeth to “Buy” and the brokerage firm has set the Price Target at $29. WallachBeth advised their investors in a research report released on May 26, 2016.
Otonomy Inc opened for trading at $13.8 and hit $14.56 on the upside on Wednesday, eventually ending the session at $14.46, with a gain of 5.70% or 0.78 points. The heightened volatility saw the trading volume jump to 2,35,733 shares. Company has a market cap of $435 M.
In a different news, on Dec 22, 2015, Carl Lebel (Chief Scientific Officer) sold 21,250 shares at $28.10 per share price. According to the SEC, on Dec 18, 2015, Paul E Cayer (Ch. Financial & Business Offcr) sold 3,000 shares at $29.92 per share price. On Dec 16, 2015, David Allen Weber (President & CEO) sold 5,208 shares at $27.25 per share price, according to the Form-4 filing with the securities and exchange commission.
Otonomy Inc. is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for the treatment of diseases and disorders of the ear. The Company’s product candidates include AuriPro OTO-104 and OTO-311. The Company’s lead product candidate AuriPro is a sustained-exposure antibiotic. AuriPro has completed two identical Phase III clinical trials in 532 pediatric patients with middle ear effusion (fluid) at the time of tympanostomy tube placement (TTP) surgery. OTO-104 is a sustained-exposure formulation of the steroid dexamethasone in development for the treatment of Meniere’s disease and other inner ear conditions. OTO-104 is in a Phase IIb clinical trial at more than 50 centers in the United States and Canada. OTO-311 is a sustained-exposure formulation of the N-Methyl-D-Aspartate (NMDA) receptor antagonist gacyclidine in development for the treatment of tinnitus. OTO-311 is in preclinical development.