Orexigen Therapeutics Inc. (OREX) Shares Down 3.5%
Shares of Orexigen Therapeutics Inc. (NASDAQ:OREX) were down 3.5% during trading on Tuesday . The company traded as low as $3.26 and last traded at $3.31, with a volume of 95,136 shares traded. The stock had previously closed at $3.43.
Separately, Zacks Investment Research lowered Orexigen Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, March 31st. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.61.
The stock has a 50-day moving average of $4.35 and a 200-day moving average of $7.85. The company’s market capitalization is $47.60 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 firm had revenue of $5 million for the quarter, compared to analysts’ expectations of $7.78 million. During the same quarter last year, the company posted ($0.14) EPS. The firm’s revenue was up 16.3% on a year-over-year basis. Equities research analysts predict that Orexigen Therapeutics Inc. will post ($5.61) earnings per share for the current fiscal 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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