Odonate Therapeutics (NASDAQ:ODT) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Odonate Therapeutics (NASDAQ:ODT) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Odonate Therapeutics, LLC is a pharmaceutical company. It engaged in the development of therapeutics to improve and extend the lives of patients with cancer. The company focused on the development of tesetaxel, a novel chemotherapy agent. It has completed Phase-II studies in patients with metastatic breast cancer. Odonate Therapeutics, LLC is based in SAN DIEGO, United States. “

ODT has been the subject of several other reports. ValuEngine cut shares of Odonate Therapeutics from a buy rating to a hold rating in a report on Thursday, April 18th. Cowen restated a buy rating on shares of Odonate Therapeutics in a report on Monday, June 3rd.

ODT stock opened at $32.35 on Friday. The stock has a market cap of $1.08 billion, a P/E ratio of -8.89 and a beta of 1.69. The firm has a 50 day simple moving average of $36.78 and a 200 day simple moving average of $25.36. Odonate Therapeutics has a 52 week low of $11.54 and a 52 week high of $43.75.

Odonate Therapeutics (NASDAQ:ODT) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($1.24) by $0.09. On average, analysts predict that Odonate Therapeutics will post -4.62 EPS for the current fiscal year.

In other Odonate Therapeutics news, CEO Kevin C. Tang bought 93,692 shares of Odonate Therapeutics stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $24.92 per share, for a total transaction of $2,334,804.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin C. Tang bought 76,308 shares of Odonate Therapeutics stock in a transaction on Friday, June 7th. The stock was acquired at an average price of $27.36 per share, with a total value of $2,087,786.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,393,077 shares of company stock valued at $36,230,094. 59.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ODT. BlackRock Inc. increased its stake in shares of Odonate Therapeutics by 1.5% during the fourth quarter. BlackRock Inc. now owns 344,069 shares of the company’s stock worth $4,844,000 after acquiring an additional 5,244 shares during the period. Northern Trust Corp increased its stake in shares of Odonate Therapeutics by 11.1% during the fourth quarter. Northern Trust Corp now owns 91,550 shares of the company’s stock worth $1,289,000 after acquiring an additional 9,125 shares during the period. Geode Capital Management LLC increased its stake in shares of Odonate Therapeutics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 93,842 shares of the company’s stock worth $1,321,000 after acquiring an additional 21,168 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Odonate Therapeutics by 1,187.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,442 shares of the company’s stock worth $32,000 after acquiring an additional 1,330 shares during the period. Finally, California Public Employees Retirement System acquired a new position in shares of Odonate Therapeutics during the first quarter worth about $1,548,000. Hedge funds and other institutional investors own 77.79% of the company’s stock.

Odonate Therapeutics Company Profile

Odonate Therapeutics, Inc, a pharmaceutical company, develops therapeutics for the treatment of cancer. It is developing tesetaxel, an orally administered chemotherapy agent, which is in Phase III clinical study for patients with locally advanced or metastatic breast cancer. The company was founded in 2013 and is based in San Diego, California.

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