Orexigen Therapeutics Inc. (OREX) Sees Unusually-High Trading Volume
Orexigen Therapeutics Inc. (NASDAQ:OREX) shares saw strong trading volume on Tuesday . 402,961 shares changed hands during trading, an increase of 95% from the previous session’s volume of 207,124 shares.The stock last traded at $4.25 and had previously closed at $0.40.
Several research firms have issued reports on OREX. Zacks Investment Research upgraded shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Leerink Swann decreased their price target on shares of Orexigen Therapeutics from $2.00 to $1.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 16th. Piper Jaffray Cos. lowered shares of Orexigen Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $2.00 in a research report on Wednesday, March 16th. Finally, JMP Securities lowered shares of Orexigen Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 16th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Orexigen Therapeutics has a consensus rating of “Hold” and a consensus target price of $2.61.
The stock’s market capitalization is $585.18 million. The company has a 50-day moving average price of $4.48 and a 200-day moving average price of $8.71.
Orexigen Therapeutics (NASDAQ:OREX) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm earned $5 million during the quarter, compared to analysts’ expectations of $7.78 million. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities research analysts forecast that Orexigen Therapeutics Inc. will post ($5.00) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Orexigen Therapeutics stock. Oxford Asset Management boosted its stake in Orexigen Therapeutics Inc. (NASDAQ:OREX) by 24.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 654,750 shares of the biopharmaceutical company’s stock after buying an additional 127,635 shares during the period. Oxford Asset Management owned 0.45% of Orexigen Therapeutics worth $1,138,000 at the end of the most recent reporting period.
Orexigen Therapeutics, Inc (Orexigen) is a biopharmaceutical company. The Company is focused on the development of pharmaceutical product candidates for the treatment of obesity. The Company’s product is Contrave, a fixed dose combination of bupropion hydrochloride (HCl) extended release (ER) and naltrexone HCl ER.
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.