Orexigen Therapeutics Inc. (OREX) Shares Up 6.2%
Orexigen Therapeutics Inc. (NASDAQ:OREX) shares shot up 6.2% during mid-day trading on Monday . The stock traded as high as $4.52 and last traded at $4.44, with a volume of 110,780 shares. The stock had previously closed at $4.18.
Separately, Zacks Investment Research cut shares of Orexigen Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $2.04.
The firm’s 50-day moving average price is $3.88 and its 200-day moving average price is $6.33. The stock’s market capitalization is $62.28 million.
Orexigen Therapeutics (NASDAQ:OREX) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.47) by $0.26. The business had revenue of $7.79 million for the quarter, compared to the consensus estimate of $6.88 million. The company’s revenue was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) earnings per share. Equities analysts expect that Orexigen Therapeutics Inc. will post ($7.41) EPS for the current fiscal 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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