Orexigen Therapeutics Inc. (OREX) Shares Down 4.7%
Orexigen Therapeutics Inc. (NASDAQ:OREX) was down 4.7% during trading on Wednesday . The company traded as low as $3.78 and last traded at $3.83, with a volume of 261,364 shares trading hands. The stock had previously closed at $4.02.
A number of equities research analysts have commented on OREX shares. Zacks Investment Research upgraded Orexigen Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. Leerink Swann reduced their target price on 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. downgraded Orexigen Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $5.00 to $2.00 in a research report on Wednesday, March 16th. Finally, JMP Securities downgraded Orexigen Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 16th. One 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 price target of $2.61.
The company’s market capitalization is $566.26 million. The company has a 50-day moving average of $4.48 and a 200-day moving average of $8.71.
Orexigen Therapeutics (NASDAQ:OREX) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The company had revenue of $5 million for the quarter, compared to analyst estimates of $7.78 million. Orexigen Therapeutics’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) EPS. Equities analysts anticipate that Orexigen Therapeutics Inc. will post ($5.01) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Orexigen Therapeutics stock. Oxford Asset Management raised 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 as of its most recent SEC filing.
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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