Orexigen Therapeutics Inc. (OREX) Shares Down 2.8%
Orexigen Therapeutics Inc. (NASDAQ:OREX) shares were down 2.8% during mid-day trading on Wednesday . The stock traded as low as $3.41 and last traded at $3.41, with a volume of 71,566 shares. The stock had previously closed at $3.51.
Separately, Zacks Investment Research raised shares of Orexigen Therapeutics from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a research report on Monday, August 8th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $2.04.
The stock’s market cap is $49.88 million. The firm has a 50 day moving average of $3.85 and a 200 day moving average of $4.57.
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Orexigen Therapeutics (NASDAQ:OREX) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the consensus estimate of ($1.47) by $0.26. The firm earned $7.79 million during the quarter, compared to analyst estimates of $6.88 million. Orexigen Therapeutics had a negative net margin of 275.98% and a negative return on equity of 380.26%. Orexigen Therapeutics’s quarterly revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Equities analysts predict that Orexigen Therapeutics Inc. will post ($6.38) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of OREX. Rhenman & Partners Asset Management AB boosted its position in shares of Orexigen Therapeutics by 0.9% in the first quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the biopharmaceutical company’s stock valued at $675,000 after buying an additional 11,000 shares during the last quarter. Foresite Capital Management III LLC boosted its position in shares of Orexigen Therapeutics by 0.9% in the first quarter. Foresite Capital Management III LLC now owns 3,027,354 shares of the biopharmaceutical company’s stock valued at $1,703,000 after buying an additional 27,354 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Orexigen Therapeutics by 3.0% in the first quarter. BlackRock Fund Advisors now owns 4,581,728 shares of the biopharmaceutical company’s stock valued at $2,578,000 after buying an additional 134,325 shares during the last quarter. KCG Holdings Inc. boosted its position in shares of Orexigen Therapeutics by 231.5% in the second quarter. KCG Holdings Inc. now owns 264,713 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 184,861 shares during the last quarter. Finally, Foresite Capital Management II LLC boosted its position in shares of Orexigen Therapeutics by 3.8% in the first quarter. Foresite Capital Management II LLC now owns 6,462,080 shares of the biopharmaceutical company’s stock valued at $3,636,000 after buying an additional 237,031 shares during the last quarter.
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.
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