Orexigen Therapeutics Inc. (OREX) Trading Up 3.1%
Orexigen Therapeutics Inc. (NASDAQ:OREX) was up 3.1% on Thursday . The company traded as high as $4.07 and last traded at $4.01, with a volume of 166,569 shares changing hands. The stock had previously closed at $3.89.
Separately, Zacks Investment Research upgraded shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.61.
The firm’s market cap is $55.75 million. The stock has a 50-day moving average of $4.45 and a 200 day moving average of $8.53.
Orexigen Therapeutics (NASDAQ:OREX) last released its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The business had revenue of $5 million for the quarter, compared to analysts’ expectations of $7.78 million. Orexigen Therapeutics’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, analysts anticipate that Orexigen Therapeutics Inc. will post ($5.43) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Orexigen Therapeutics stock. Oxford Asset Management raised its stake in Orexigen Therapeutics Inc. (NASDAQ:OREX) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 654,750 shares of the biopharmaceutical company’s stock after buying an additional 127,635 shares during the period. Oxford Asset Management owned about 0.45% of Orexigen Therapeutics worth $1,138,000 as of its most recent SEC filing.
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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