Orexigen Therapeutics Inc. (OREX) Trading Up 7.3%
Orexigen Therapeutics Inc. (NASDAQ:OREX)’s share price was up 7.3% on Thursday . The stock traded as high as $3.57 and last traded at $3.53, with a volume of 173,421 shares trading hands. The stock had previously closed at $3.29.
Separately, Zacks Investment Research raised shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, April 14th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $2.61.
The stock has a 50 day moving average price of $3.98 and a 200-day moving average price of $7.20. The firm’s market capitalization is $54.59 million.
Orexigen Therapeutics (NASDAQ:OREX) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.47) by $0.26. During the same period in the prior year, the firm earned ($0.18) earnings per share. The firm earned $7.79 million during the quarter, compared to analyst estimates of $6.88 million. The company’s revenue for the quarter was up 50.0% on a year-over-year basis. On average, equities research analysts forecast that Orexigen Therapeutics Inc. will post ($5.61) EPS 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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