Orexigen Therapeutics Inc. (OREX) Trading Down 1.4%
Orexigen Therapeutics Inc. (NASDAQ:OREX)’s share price traded down 1.4% during trading on Tuesday . The stock traded as low as $4.29 and last traded at $4.35, with a volume of 50,571 shares trading hands. The stock had previously closed at $4.41.
Separately, Zacks Investment Research downgraded 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 stock. The stock has an average rating of “Hold” and a consensus price target of $2.04.
The stock’s market capitalization is $58.64 million. The firm has a 50 day moving average of $3.88 and a 200-day moving average of $5.81.
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 Zacks’ consensus estimate of ($1.47) by $0.26. The firm earned $7.79 million during the quarter, compared to the consensus estimate of $6.88 million. During the same quarter last year, the firm earned ($0.18) EPS. Orexigen Therapeutics’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts expect 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.
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