Zacks Investment Research upgraded shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX) from a sell rating to a hold rating in a research report report published on Tuesday, July 11th.
According to Zacks, “Orexigen’s sole marketed drug, Contrave, targets the obesity market which represents immense commercial potential. Contrave sales are picking up slowly. With the acquisition of U.S. rights of Contrave in Mar 2016 from Takeda, Orexigen has adopted a targeted approach for ramping up Contrave sales. Contrave should benefit from a more targeted sales effort. However, commercialization efforts have increased costs. We are also optimistic about the company’s collaboration agreement with several companies for the commercialization of the drug in Europe. The company’s shares underperformed the Zacks classified Medical/Biomedical Genetics industry in the last one year. Meanwhile, Orexigen’s dependence on Contrave for growth and early stage of pipeline candidates remain potent concerns. Estimates have remained mostly stable lately ahead of the Q2 results. The company has a mixed record of earnings surprises in recent quarters.”
Separately, ValuEngine cut Orexigen Therapeutics from a sell rating to a strong sell rating in a research report on Friday, June 2nd.
Orexigen Therapeutics (OREX) opened at 2.39 on Tuesday. The stock’s market cap is $36.46 million. Orexigen Therapeutics has a 12-month low of $1.65 and a 12-month high of $5.70. The firm’s 50-day moving average price is $2.67 and its 200-day moving average price is $3.31.
Orexigen Therapeutics (NASDAQ:OREX) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.82) EPS for the quarter, topping the consensus estimate of ($2.40) by $0.58. Orexigen Therapeutics had a negative return on equity of 406.28% and a negative net margin of 120.77%. The firm had revenue of $23.36 million for the quarter, compared to the consensus estimate of $20 million. During the same quarter last year, the company earned ($1.73) earnings per share. The business’s revenue for the quarter was up 199.9% compared to the same quarter last year. On average, equities analysts predict that Orexigen Therapeutics will post ($9.50) EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Orexigen Therapeutics by 2.5% in the second quarter. Wells Fargo & Company MN now owns 45,638 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,100 shares in the last quarter. KCG Holdings Inc. boosted its position 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. EcoR1 Capital LLC purchased a new position in Orexigen Therapeutics during the first quarter valued at $405,000. Old West Investment Management LLC boosted its position 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 boosted its position 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. Hedge funds and other institutional investors own 45.18% of the company’s stock.
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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