Orexigen Therapeutics Inc. (OREX) Sees Large Volume Increase
Orexigen Therapeutics Inc. (NASDAQ:OREX) saw unusually-high trading volume on Thursday . Approximately 149,571 shares traded hands during trading, an increase of 1% from the previous session’s volume of 148,472 shares.The stock last traded at $3.83 and had previously closed at $4.02.
Separately, Zacks Investment Research upgraded shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. 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 a consensus rating of “Hold” and an average price target of $2.04.
The stock has a 50 day moving average price of $3.86 and a 200 day moving average price of $5.70. The company’s market capitalization is $56.16 million.
Orexigen Therapeutics (NASDAQ:OREX) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.47) by $0.26. The firm earned $7.79 million during the quarter, compared to the consensus estimate of $6.88 million. Orexigen Therapeutics’s revenue for the quarter was up 50.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.18) EPS. Equities research analysts expect that Orexigen Therapeutics Inc. will post ($6.38) EPS for the current 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.