Orexigen Therapeutics Inc. (OREX) Shares Down 4.7%
Orexigen Therapeutics Inc. (NASDAQ:OREX)’s share price fell 4.7% on Wednesday . The company traded as low as $3.78 and last traded at $3.83, with a volume of 261,364 shares traded. The stock had previously closed at $4.02.
Separately, Zacks Investment Research downgraded shares of Orexigen Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 31st. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Orexigen Therapeutics has a consensus rating of “Hold” and a consensus target price of $2.61.
The firm’s market capitalization is $55.90 million. The stock’s 50 day moving average price is $4.46 and its 200 day moving average price is $8.64.
Orexigen Therapeutics (NASDAQ:OREX) last posted its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. The firm had revenue of $5 million for the quarter, compared to analysts’ expectations of $7.78 million. The company’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) EPS. On average, analysts forecast that Orexigen Therapeutics Inc. will post ($5.43) earnings per share for the current year.
An institutional investor recently raised its position in Orexigen Therapeutics stock. Oxford Asset Management boosted its position in shares of Orexigen Therapeutics Inc. (NASDAQ:OREX) by 24.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 654,750 shares of the biopharmaceutical company’s stock after buying an additional 127,635 shares during the period. Oxford Asset Management owned approximately 0.45% of Orexigen Therapeutics worth $1,138,000 at the end of the most recent reporting period.
Orexigen Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the treatment of obesity. The Company’s product, Contrave, is approved in the United States by the United States Food and Drug Administration as an adjunct to a reduced-calorie diet and increased physical activity for chronic weight management in adults with an initial body mass index (BMI) of 30 kilograms per square meter or greater (obese) or 27 kilograms per square meter or greater (overweight) in the presence of a weight-related comorbid condition.
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