Orexigen Therapeutics Inc. (NASDAQ:OREX) was up 7% on Wednesday . The company traded as high as $3.50 and last traded at $3.50, with a volume of 205,438 shares changing hands. The stock had previously closed at $3.27.

Separately, Zacks Investment Research downgraded Orexigen Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, March 31st. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $2.61.

Orexigen Therapeutics (NASDAQ:OREX) last issued its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. During the same quarter in the previous year, the firm posted ($0.14) EPS. The business had revenue of $5 million for the quarter, compared to the consensus estimate of $7.78 million. The business’s revenue was up 16.3% on a year-over-year basis.

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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