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

Zacks Investment Research upgraded shares of Odonate Therapeutics (NASDAQ:ODT) from a sell rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports. The firm currently has $22.00 price objective on the stock.

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. “

Other analysts have also recently issued research reports about the company. ValuEngine cut Odonate Therapeutics from a buy rating to a hold rating in a research report on Thursday, April 18th. Cowen restated a buy rating on shares of Odonate Therapeutics in a research report on Friday, February 22nd.

Shares of ODT opened at $19.48 on Tuesday. The stock has a market capitalization of $525.84 million, a price-to-earnings ratio of -5.35 and a beta of 0.94. Odonate Therapeutics has a 52 week low of $11.54 and a 52 week high of $28.57.

Odonate Therapeutics (NASDAQ:ODT) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.08. As a group, sell-side analysts expect that Odonate Therapeutics will post -4.43 EPS for the current year.

In other Odonate Therapeutics news, CEO Kevin C. Tang acquired 140,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of $18.26 per share, with a total value of $2,556,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff L. Vacirca acquired 3,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $17.00 per share, with a total value of $51,000.00. The disclosure for this purchase can be found here. Corporate insiders own 49.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its stake in shares of Odonate Therapeutics by 18.5% in the third quarter. Vanguard Group Inc now owns 316,733 shares of the company’s stock worth $6,148,000 after acquiring an additional 49,528 shares during the period. BlackRock Inc. boosted its stake in shares of Odonate Therapeutics by 1.4% in the third quarter. BlackRock Inc. now owns 338,825 shares of the company’s stock worth $6,576,000 after acquiring an additional 4,566 shares during the period. Federated Investors Inc. PA bought a new position in shares of Odonate Therapeutics in the third quarter worth about $68,000. Vanguard Group Inc. boosted its stake in shares of Odonate Therapeutics by 18.5% in the third quarter. Vanguard Group Inc. now owns 316,733 shares of the company’s stock worth $6,148,000 after acquiring an additional 49,528 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Odonate Therapeutics by 11.1% in 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. 94.02% of the stock is owned by hedge funds and other institutional investors.

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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