Otonomy (OTIC) Initiated with a Buy at Craig-Hallum

By Ryan Adsit

Craig-Hallum analyst Francois Brisebois initiated coverage with a Buy rating on Otonomy (OTICResearch Report) today and set a price target of $8.00. The company’s shares closed last Friday at $2.56.

According to TipRanks.com, Brisebois is ranked #2406 out of 6648 analysts.

Otonomy has an analyst consensus of Strong Buy, with a price target consensus of $8.00.

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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 95.38K.

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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.