Orexigen Therapeutics Inc. (OREX) Trading Down 1.5%
Orexigen Therapeutics Inc. (NASDAQ:OREX)’s share price was down 1.5% during trading on Monday . The stock traded as low as $3.77 and last traded at $3.86, with a volume of 97,100 shares. The stock had previously closed at $3.92.
Separately, Zacks Investment Research upgraded Orexigen Therapeutics from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Orexigen Therapeutics presently has an average rating of “Hold” and a consensus target price of $2.04.
The stock has a 50-day moving average price of $3.83 and a 200-day moving average price of $5.33. The stock’s market capitalization is $56.30 million.
Orexigen Therapeutics (NASDAQ:OREX) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.47) by $0.26. The business earned $7.79 million during the quarter, compared to analyst estimates of $6.88 million. The firm’s revenue for the quarter was up 50.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) earnings per share. On average, equities analysts anticipate that Orexigen Therapeutics Inc. will post ($6.38) 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.