Orexigen Therapeutics Inc. (OREX) Sees Large Volume Increase
Orexigen Therapeutics Inc. (NASDAQ:OREX) saw unusually-high trading volume on Tuesday . Approximately 402,961 shares traded 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.
OREX has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. Leerink Swann reduced their price objective on shares of Orexigen Therapeutics from $2.00 to $1.00 and set a “market perform” rating for the company in a research note on Wednesday, March 16th. Piper Jaffray Cos. lowered shares of Orexigen Therapeutics from an “overweight” rating to a “neutral” rating and reduced 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 research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Orexigen Therapeutics has an average rating of “Hold” and a consensus price target of $2.61.
The firm’s 50-day moving average is $4.47 and its 200 day moving average is $8.67. The firm’s market cap is $56.62 million.
Orexigen Therapeutics (NASDAQ:OREX) last posted its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. The business had revenue of $5 million for the quarter, compared to analyst estimates of $7.78 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts expect that Orexigen Therapeutics Inc. will post ($5.01) EPS for the current year.
A hedge fund recently raised its stake in Orexigen Therapeutics stock. Oxford Asset Management raised its position in Orexigen Therapeutics Inc. (NASDAQ:OREX) by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 654,750 shares of the biopharmaceutical company’s stock after buying an additional 127,635 shares during the period. Oxford Asset Management owned about 0.45% of Orexigen Therapeutics worth $1,138,000 as of its most recent filing with the SEC.
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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