Odonate Therapeutics (NASDAQ: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 research report sent to investors on Tuesday morning, 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 reissued a buy rating on shares of Odonate Therapeutics in a research note on Monday, June 3rd.



ODT opened at $27.48 on Tuesday. The stock has a market cap of $941.48 million, a price-to-earnings ratio of -7.55 and a beta of 1.83. The stock’s 50 day moving average price is $33.30 and its 200-day moving average price is $27.61. Odonate Therapeutics has a one year low of $11.54 and a one year high of $43.75.

Odonate Therapeutics (NASDAQ:ODT) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $0.09. As a group, sell-side analysts expect that Odonate Therapeutics will post -4.51 EPS for the current year.

In other news, major shareholder Boxer Capital, Llc acquired 384,615 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin C. Tang acquired 769,231 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average cost of $26.00 per share, for a total transaction of $20,000,006.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,173,077 shares of company stock worth $30,500,002. 59.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in Odonate Therapeutics by 1,187.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,442 shares of the company’s stock worth $32,000 after purchasing an additional 1,330 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Odonate Therapeutics by 198.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,574 shares of the company’s stock valued at $57,000 after acquiring an additional 1,047 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Odonate Therapeutics by 106.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,703 shares of the company’s stock valued at $63,000 after acquiring an additional 880 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Odonate Therapeutics by 109.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,351 shares of the company’s stock valued at $196,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Swiss National Bank bought a new stake in Odonate Therapeutics during the 2nd quarter valued at $455,000. 96.55% of the stock is currently owned by 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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