Otonomy (OTIC) Received its Third Buy in a Row

After H.C. Wainwright and Oppenheimer gave Otonomy (NASDAQ: OTIC) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan maintained a Buy rating on Otonomy yesterday and set a price target of $9.00. The company’s shares closed last Tuesday at $3.21.

According to TipRanks.com, Duncan is a 5-star analyst with an average return of 13.4% and a 52.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Crinetics Pharmaceuticals, and Intra-Cellular Therapies.

Currently, the analyst consensus on Otonomy is a Strong Buy with an average price target of $8.33, a 169.6% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $8.00 price target.

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The company has a one-year high of $4.18 and a one-year low of $1.53. Currently, Otonomy has an average volume of 101.7K.

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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.