Zacks: Brokerages Anticipate Odonate Therapeutics Inc (NASDAQ:ODT) Will Post Earnings of -$1.07 Per Share

Wall Street analysts expect that Odonate Therapeutics Inc (NASDAQ:ODT) will post ($1.07) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Odonate Therapeutics’ earnings. Odonate Therapeutics posted earnings per share of ($0.98) during the same quarter last year, which indicates a negative year-over-year growth rate of 9.2%. The company is expected to issue its next earnings results on Tuesday, October 22nd.

On average, analysts expect that Odonate Therapeutics will report full-year earnings of ($4.62) per share for the current year, with EPS estimates ranging from ($4.75) to ($4.48). For the next fiscal year, analysts expect that the firm will post earnings of ($4.71) per share, with EPS estimates ranging from ($4.81) to ($4.60). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Odonate Therapeutics.

Odonate Therapeutics (NASDAQ:ODT) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($1.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.09.

A number of research firms recently weighed in on ODT. Zacks Investment Research raised shares of Odonate Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Cowen reissued a “buy” rating on shares of Odonate Therapeutics in a research note on Monday, June 3rd.

Shares of ODT traded down $1.09 on Tuesday, reaching $32.35. 58,300 shares of the company’s stock were exchanged, compared to its average volume of 137,296. The stock has a market capitalization of $1.08 billion, a P/E ratio of -8.89 and a beta of 1.69. The business has a 50 day moving average price of $36.78 and a two-hundred day moving average price of $25.36. Odonate Therapeutics has a 12 month low of $11.54 and a 12 month high of $43.75.

In other news, CEO Kevin C. Tang acquired 76,308 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $27.36 per share, for a total transaction of $2,087,786.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin C. Tang acquired 769,231 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $26.00 per share, with a total value of $20,000,006.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,393,077 shares of company stock valued at $36,230,094. 59.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its holdings in Odonate Therapeutics by 1,187.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,442 shares of the company’s stock valued at $32,000 after purchasing an additional 1,330 shares during the period. Meeder Asset Management Inc. grew its holdings in Odonate Therapeutics by 198.7% during the second quarter. Meeder Asset Management Inc. now owns 1,574 shares of the company’s stock valued at $57,000 after purchasing an additional 1,047 shares during the period. Tower Research Capital LLC TRC grew its holdings in Odonate Therapeutics by 106.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,703 shares of the company’s stock valued at $63,000 after purchasing an additional 880 shares during the period. Russell Investments Group Ltd. grew its holdings in Odonate Therapeutics by 109.8% during the second quarter. Russell Investments Group Ltd. now owns 5,351 shares of the company’s stock valued at $196,000 after purchasing an additional 2,800 shares during the period. Finally, Swiss National Bank acquired a new position in Odonate Therapeutics during the second quarter valued at approximately $455,000. Hedge funds and other institutional investors own 77.79% 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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