Orexigen Therapeutics Inc. (OREX) Trading Up 5.2%
Orexigen Therapeutics Inc. (NASDAQ:OREX) was up 5.2% during mid-day trading on Tuesday . The company traded as high as $4.75 and last traded at $4.03, with a volume of 769,016 shares traded. The stock had previously closed at $3.83.
Separately, Zacks Investment Research upgraded Orexigen Therapeutics from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $2.04.
The stock’s market cap is $58.20 million. The company’s 50-day moving average price is $3.84 and its 200-day moving average price is $5.45.
Orexigen Therapeutics (NASDAQ:OREX) last issued its quarterly earnings data 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 had revenue of $7.79 million for the quarter, compared to analysts’ expectations of $6.88 million. During the same period last year, the firm posted ($0.18) earnings per share. Orexigen Therapeutics’s revenue for the quarter was up 50.0% on a year-over-year basis. Equities analysts forecast that Orexigen Therapeutics Inc. will post ($6.38) EPS 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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