Auris Medical (NASDAQ:EARS) Downgraded to “Hold” at Zacks Investment Research

Auris Medical (NASDAQ:EARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Auris Medical Holding AG is a biopharmaceutical company. It focuses on developing therapies for the treatment of hearing loss and tinnitus. The Company has two projects in advanced clinical development: AM-101 for the treatment of acute inner ear tinnitus and AM-111 for the treatment of acute inner ear hearing loss. Auris Medical Holding AG is headquartered in Zug, Switzerland. “

EARS stock traded up $0.02 during midday trading on Tuesday, reaching $2.63. The company’s stock had a trading volume of 58,500 shares, compared to its average volume of 161,738. The company’s fifty day moving average price is $2.73. Auris Medical has a 1 year low of $2.41 and a 1 year high of $39.40. The stock has a market cap of $4.83 million, a price-to-earnings ratio of -0.18 and a beta of -0.50.

A hedge fund recently bought a new stake in Auris Medical stock. Wedbush Securities Inc. bought a new position in Auris Medical Holding Ltd (NASDAQ:EARS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 170,000 shares of the biotechnology company’s stock, valued at approximately $59,000. Wedbush Securities Inc. owned 0.45% of Auris Medical as of its most recent SEC filing. 13.27% of the stock is owned by institutional investors.

About Auris Medical

Auris Medical Holding AG, a clinical-stage biopharmaceutical company, focuses on the development of novel products for the treatment of inner ear disorders. Its product candidates include AM-101, which is in phase III clinical development for the treatment of acute inner ear tinnitus; and AM-111 that is in phase III clinical development for the treatment of acute inner ear hearing loss.

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