Orexigen Therapeutics Inc. (OREX) Trading Up 3.1%
Shares of Orexigen Therapeutics Inc. (NASDAQ:OREX) were up 3.1% during trading on Thursday . The stock traded as high as $4.07 and last traded at $4.01, with a volume of 166,569 shares traded. The stock had previously closed at $3.89.
Several brokerages recently commented on OREX. Zacks Investment Research cut shares of Orexigen Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st. JMP Securities cut shares of Orexigen Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 16th. Piper Jaffray Cos. cut shares of Orexigen Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $2.00 in a research note on Wednesday, March 16th. Finally, 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. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Orexigen Therapeutics has an average rating of “Hold” and a consensus target price of $2.61.
The firm’s market capitalization is $57.35 million. The firm’s 50-day moving average is $4.46 and its 200-day moving average is $8.64.
Orexigen Therapeutics (NASDAQ:OREX) last released its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.02. The business had revenue of $5 million for the quarter, compared to the consensus estimate of $7.78 million. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) EPS. Analysts anticipate that Orexigen Therapeutics Inc. will post ($5.43) 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,750 shares of the biopharmaceutical company’s stock after buying an additional 127,635 shares during the period. Oxford Asset Management owned approximately 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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