Odonate Therapeutics (ODT) Downgraded by Zacks Investment Research

Odonate Therapeutics (NASDAQ:ODT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

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Separately, ValuEngine raised shares of Odonate Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Odonate Therapeutics presently has a consensus rating of “Hold” and an average target price of $31.00.

Odonate Therapeutics opened at $23.43 on Thursday, MarketBeat.com reports. Odonate Therapeutics has a 1-year low of $15.15 and a 1-year high of $32.00. The company has a market capitalization of $623.53 million and a PE ratio of -10.14.

Odonate Therapeutics (NASDAQ:ODT) last posted its quarterly earnings results on Thursday, May 3rd. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.85) by $0.16. sell-side analysts forecast that Odonate Therapeutics will post -3.41 earnings per share for the current year.

Several large investors have recently bought and sold shares of the stock. Tang Capital Management LLC boosted its position in shares of Odonate Therapeutics by 1.7% during the 1st quarter. Tang Capital Management LLC now owns 12,412,338 shares of the company’s stock worth $262,893,000 after purchasing an additional 210,000 shares during the period. Franklin Resources Inc. purchased a new position in shares of Odonate Therapeutics during the 4th quarter worth approximately $38,437,000. Sabby Management LLC purchased a new position in shares of Odonate Therapeutics during the 4th quarter worth approximately $20,636,000. Redmile Group LLC purchased a new position in shares of Odonate Therapeutics during the 4th quarter worth approximately $14,923,000. Finally, Rock Springs Capital Management LP purchased a new position in shares of Odonate Therapeutics during the 4th quarter worth approximately $10,250,000. 83.09% 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 focuses on the development of tesetaxel, an orally administered chemotherapy agent for patients with advanced or metastatic breast cancer (MBC). Odonate Therapeutics, Inc also conducting a Phase III study in MBC, which is known as CONTESSA.

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