Market Analysts see Odonate Therapeutics Inc. [ODT] falling to $4. Time to buy?

Odonate Therapeutics Inc. [NASDAQ: ODT] stock went on an upward path that rose over 12.14% on Wednesday, amounting to a one-week price increase of more than 21.63%. The company report on March 22, 2021 that Odonate Therapeutics Announces Discontinuation of Development of Tesetaxel.

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Following feedback from the U.S. Food and Drug Administration (FDA) in a pre-New Drug Application meeting, Odonate Therapeutics, Inc. (NASDAQ: ODT) has concluded that the clinical data package for tesetaxel is unlikely to support FDA approval. Therefore, Odonate is discontinuing the development of tesetaxel and will wind down the operations of the Company. The Company will work with clinical sites to transition patients in ongoing tesetaxel clinical studies to appropriate alternative therapies.


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“We thank the investigators, study team personnel, and especially the patients and their caregivers for their endeavors to improve treatments for patients with breast cancer,” said Kevin Tang, Chief Executive Officer of Odonate.

Over the last 12 months, ODT stock dropped by -85.93%. The one-year Odonate Therapeutics Inc. stock forecast points to a potential upside of 3.0. The average equity rating for ODT stock is currently 3.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $150.19 million, with 37.32 million shares outstanding and 37.15 million shares in the current float. Compared to the average trading volume of 1.41M shares, ODT stock reached a trading volume of 147954842 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Odonate Therapeutics Inc. [ODT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ODT shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ODT stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Odonate Therapeutics Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 22, 2021. The new note on the price target was released on March 22, 2021, representing the official price target for Odonate Therapeutics Inc. stock.

The Average True Range (ATR) for Odonate Therapeutics Inc. is set at 1.35 The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 4.06.

ODT Stock Performance Analysis:

Odonate Therapeutics Inc. [ODT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.63. With this latest performance, ODT shares dropped by -77.98% in over the last four-week period, additionally sinking by -75.92% over the last 6 months – not to mention a drop of -85.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ODT stock in for the last two-week period is set at 23.64, with the RSI for the last a single of trading hit 23.60, and the three-weeks RSI is set at 26.08 for Odonate Therapeutics Inc. [ODT]. The present Moving Average for the last 50 days of trading for this stock 17.31, while it was recorded at 3.50 for the last single week of trading, and 21.30 for the last 200 days.

Insight into Odonate Therapeutics Inc. Fundamentals:

Return on Total Capital for ODT is now -83.33, given the latest momentum, and Return on Invested Capital for the company is -82.89. Return on Equity for this stock declined to -84.67, with Return on Assets sitting at -70.84. When it comes to the capital structure of this company, Odonate Therapeutics Inc. [ODT] has a Total Debt to Total Equity ratio set at 3.91. Additionally, ODT Total Debt to Total Capital is recorded at 3.76, with Total Debt to Total Assets ending up at 3.17. Long-Term Debt to Equity for the company is recorded at 3.43, with the Long-Term Debt to Total Capital now at 3.30.

Reflecting on the efficiency of the workforce at the company, Odonate Therapeutics Inc. [ODT] managed to generate an average of -$825,817 per employee.Odonate Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.

ODT Stock EPS

With the latest financial reports released by the company, Odonate Therapeutics Inc. posted -0.99/share EPS, while the average EPS was predicted by analysts to be reported at -1.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ODT.

Odonate Therapeutics Inc. [ODT] Insider Position Details

There are presently around $149 million, in the hands of institutional investors. The top three institutional holders of ODT stocks are: TANG CAPITAL MANAGEMENT LLC with ownership of 15,514,566, which is approximately 1.81% of the company’s market cap and around 1.70% of the total institutional ownership; BOXER CAPITAL, LLC, holding 5,607,086 shares of the stock with an approximate value of $21.75 million in ODT stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $14.63 million in ODT stock with ownership of nearly -16.858% of the company’s market capitalization.

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Positions in Odonate Therapeutics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 60 institutional holders increased their position in Odonate Therapeutics Inc. [NASDAQ:ODT] by around 3,487,575 shares. Additionally, 40 investors decreased positions by around 2,122,035 shares, while 10 investors held positions by with 32,746,438 shares. The mentioned changes placed institutional holdings at 38,356,048 shares, according to the latest SEC report filing. ODT stock had 21 new institutional investments in for a total of 237,315 shares, while 17 institutional investors sold positions of 589,433 shares during the same period.

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