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

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Odonate Therapeutics (NASDAQ:ODT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, 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. “

Separately, Cowen restated a “buy” rating on shares of Odonate Therapeutics in a research note on Monday, June 3rd.

Shares of NASDAQ ODT opened at $28.16 on Tuesday. The business’s 50-day moving average price is $33.52 and its two-hundred day moving average price is $27.55. Odonate Therapeutics has a one year low of $11.54 and a one year high of $43.75. The company has a market capitalization of $912.84 million, a P/E ratio of -7.74 and a beta of 1.84.

Odonate Therapeutics (NASDAQ:ODT) last issued its earnings results on Wednesday, July 24th. The company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.09. On average, equities research analysts forecast that Odonate Therapeutics will post -4.62 EPS for the current fiscal year.

In related news, Director Jeff L. Vacirca purchased 19,231 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was bought at an average price of $26.00 per share, for a total transaction of $500,006.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Boxer Capital, Llc purchased 384,615 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were bought at an average price of $26.00 per share, with a total value of $9,999,990.00. The disclosure for this purchase can be found here. Insiders acquired 1,173,077 shares of company stock worth $30,500,002 in the last 90 days. Corporate insiders own 59.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ODT. BNP Paribas Arbitrage SA boosted its stake in shares of Odonate Therapeutics by 1,187.5% during the 1st 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 in the last quarter. California Public Employees Retirement System bought a new stake in shares of Odonate Therapeutics during the 1st quarter worth about $1,548,000. Redmile Group LLC boosted its stake in shares of Odonate Therapeutics by 4.5% during the 1st quarter. Redmile Group LLC now owns 477,464 shares of the company’s stock worth $10,557,000 after acquiring an additional 20,513 shares in the last quarter. Strs Ohio boosted its stake in shares of Odonate Therapeutics by 678.9% during the 2nd quarter. Strs Ohio now owns 14,800 shares of the company’s stock worth $543,000 after acquiring an additional 12,900 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Odonate Therapeutics by 2.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,315,426 shares of the company’s stock worth $48,262,000 after acquiring an additional 33,325 shares in the last quarter. Institutional investors own 96.55% of the company’s stock.

About Odonate Therapeutics

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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