Brokerages Anticipate Orexigen Therapeutics, Inc. (OREX) Will Announce Earnings of -$2.13 Per Share

Brokerages forecast that Orexigen Therapeutics, Inc. (NASDAQ:OREX) will report ($2.13) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Orexigen Therapeutics’ earnings. Orexigen Therapeutics posted earnings per share of ($1.01) during the same quarter last year, which would suggest a negative year-over-year growth rate of 110.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, November 13th.

According to Zacks, analysts expect that Orexigen Therapeutics will report full year earnings of ($10.77) per share for the current fiscal year. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Orexigen Therapeutics.

Orexigen Therapeutics (NASDAQ:OREX) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.40) by $0.58. The business had revenue of $23.36 million during the quarter, compared to the consensus estimate of $20.00 million. Orexigen Therapeutics had a negative return on equity of 824.15% and a negative net margin of 120.77%. The company’s revenue was up 199.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.73) earnings per share.

A number of equities research analysts recently weighed in on OREX shares. Zacks Investment Research upgraded shares of Orexigen Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Monday, August 14th. ValuEngine upgraded shares of Orexigen Therapeutics from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 11th.

Orexigen Therapeutics (NASDAQ OREX) traded up $0.13 during mid-day trading on Wednesday, hitting $1.77. The stock had a trading volume of 124,535 shares, compared to its average volume of 270,155. The company has a debt-to-equity ratio of -4.08, a current ratio of 2.74 and a quick ratio of 2.36. Orexigen Therapeutics has a 1-year low of $1.58 and a 1-year high of $5.70.

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A hedge fund recently raised its stake in Orexigen Therapeutics stock. Wells Fargo & Company MN grew its stake in shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX) by 2.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,638 shares of the biopharmaceutical company’s stock after acquiring an additional 1,100 shares during the period. Wells Fargo & Company MN owned about 0.30% of Orexigen Therapeutics worth $132,000 at the end of the most recent reporting period. Institutional investors own 38.89% of the company’s stock.

About Orexigen Therapeutics

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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