Orexigen Therapeutics, Inc. (NASDAQ:OREX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.28 and last traded at $1.30, with a volume of 193900 shares. The stock had previously closed at $1.38.
Several equities research analysts have issued reports on the stock. ValuEngine cut shares of Orexigen Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of Orexigen Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th.
The company has a debt-to-equity ratio of -2.75, a quick ratio of 1.71 and a current ratio of 2.00.
An institutional investor recently raised its position in Orexigen Therapeutics stock. Wells Fargo & Company MN increased its stake in Orexigen Therapeutics, Inc. (NASDAQ:OREX) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 approximately 0.30% of Orexigen Therapeutics worth $132,000 as of its most recent SEC filing. Institutional investors own 34.69% 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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