Orexigen Therapeutics Inc. (OREX) Shares Up 5.2%
Orexigen Therapeutics Inc. (NASDAQ:OREX) shares shot up 5.2% during mid-day trading on Tuesday . The stock traded as high as $4.75 and last traded at $4.03, with a volume of 769,016 shares changing hands. The stock had previously closed at $3.83.
Separately, Zacks Investment Research downgraded shares of Orexigen Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $2.04.
The firm has a 50-day moving average price of $3.84 and a 200-day moving average price of $5.35. The company’s market cap is $57.32 million.
Orexigen Therapeutics (NASDAQ:OREX) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.47) by $0.26. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The firm had revenue of $7.79 million for the quarter, compared to analyst estimates of $6.88 million. Orexigen Therapeutics’s revenue was up 50.0% compared to the same quarter last year. On average, analysts predict that Orexigen Therapeutics Inc. will post ($6.38) 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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