Orexigen Therapeutics, Inc. (NASDAQ:OREX) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Tuesday.

Orexigen Therapeutics (NASDAQ:OREX) opened at 2.8928 on Tuesday. Orexigen Therapeutics has a one year low of $1.65 and a one year high of $5.70. The stock’s 50 day moving average price is $3.02 and its 200-day moving average price is $3.30. The stock’s market cap is $44.05 million.

Orexigen Therapeutics (NASDAQ:OREX) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($4.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.60) by $2.07. Orexigen Therapeutics had a negative return on equity of 580.50% and a negative net margin of 149.02%. The business had revenue of $19.10 million for the quarter, compared to analyst estimates of $20 million. During the same period in the previous year, the business posted ($1.54) EPS. The business’s quarterly revenue was up 282.0% compared to the same quarter last year. On average, analysts predict that Orexigen Therapeutics will post ($9.85) earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. KCG Holdings Inc. increased its stake in Orexigen Therapeutics by 30.0% in the first quarter. KCG Holdings Inc. now owns 43,954 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 10,139 shares in the last quarter. Wells Fargo & Company MN increased its stake in Orexigen Therapeutics by 89.1% in the first quarter. Wells Fargo & Company MN now owns 44,538 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 20,988 shares in the last quarter. EcoR1 Capital LLC purchased a new stake in Orexigen Therapeutics during the first quarter valued at about $405,000. Old West Investment Management LLC increased its stake in Orexigen Therapeutics by 0.3% in the first quarter. Old West Investment Management LLC now owns 206,687 shares of the biopharmaceutical company’s stock valued at $711,000 after buying an additional 669 shares in the last quarter. Finally, Foresite Capital Management III LLC increased its stake in Orexigen Therapeutics by 49.7% in the first quarter. Foresite Capital Management III LLC now owns 380,530 shares of the biopharmaceutical company’s stock valued at $1,309,000 after buying an additional 126,273 shares in the last quarter. 45.28% of the stock is currently owned by hedge funds and other institutional investors.

Orexigen Therapeutics Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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