Orexigen Therapeutics Inc. (OREX) Shares Down 5.1%
Orexigen Therapeutics Inc. (NASDAQ:OREX)’s share price traded down 5.1% on Wednesday . The company traded as low as $3.50 and last traded at $3.51, with a volume of 319,187 shares traded. The stock had previously closed at $3.70.
Separately, Zacks Investment Research upgraded shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $2.61.
The company’s market capitalization is $51.09 million. The stock’s 50 day moving average is $4.39 and its 200 day moving average is $8.19.
Orexigen Therapeutics (NASDAQ:OREX) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. During the same period last year, the firm posted ($0.14) EPS. The business earned $5 million during 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. Equities research analysts anticipate that Orexigen Therapeutics Inc. will post ($5.61) EPS for the current year.
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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