Orexigen Therapeutics Inc. (OREX) Shares Down 2.6%
Shares of Orexigen Therapeutics Inc. (NASDAQ:OREX) fell 2.6% during trading on Monday . The stock traded as low as $3.65 and last traded at $3.75, with a volume of 78,154 shares traded. The stock had previously closed at $3.85.
Separately, Zacks Investment Research upgraded Orexigen Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $2.04.
The firm’s 50-day moving average is $3.84 and its 200 day moving average is $5.45. The company’s market cap is $55.86 million.
Orexigen Therapeutics (NASDAQ:OREX) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.47) by $0.26. The firm earned $7.79 million during the quarter, compared to analysts’ expectations of $6.88 million. Orexigen Therapeutics’s quarterly revenue was up 50.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. On average, equities analysts anticipate that Orexigen Therapeutics Inc. will post ($6.38) earnings per share 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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