Orexigen Therapeutics Inc. (OREX) Trading Down 1.4%
Shares of Orexigen Therapeutics Inc. (NASDAQ:OREX) were down 1.4% during trading on Tuesday . The company traded as low as $4.29 and last traded at $4.35, with a volume of 50,571 shares traded. The stock had previously closed at $4.41.
Separately, Zacks Investment Research cut shares of Orexigen Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $2.04.
The firm’s market cap is $63.30 million. The firm has a 50-day moving average price of $3.89 and a 200-day moving average price of $5.82.
Orexigen Therapeutics (NASDAQ:OREX) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.47) by $0.26. During the same period in the previous year, the business earned ($0.18) EPS. The firm had revenue of $7.79 million for the quarter, compared to the consensus estimate of $6.88 million. The business’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities research analysts anticipate that Orexigen Therapeutics Inc. will post ($6.37) 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.