The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) hit a new 52-week low and has $2.43 target or 11.00% below today’s $2.73 share price. The 6 months bearish chart indicates high risk for the $38.32M company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $2.43 price target is reached, the company will be worth $4.22M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 87,173 shares traded hands. Orexigen Therapeutics, Inc. (NASDAQ:OREX) has declined 59.86% since March 14, 2016 and is downtrending. It has underperformed by 65.47% the S&P500.
Analysts await Orexigen Therapeutics, Inc. (NASDAQ:OREX) to report earnings on November, 3. They expect $-1.23 EPS, down 36.67% or $0.33 from last year’s $-0.9 per share. After $-1.73 actual EPS reported by Orexigen Therapeutics, Inc. for the previous quarter, Wall Street now forecasts -28.90% EPS growth.
Orexigen Therapeutics, Inc. (NASDAQ:OREX) Ratings Coverage
Out of 5 analysts covering Orexigen Therapeutics (NASDAQ:OREX), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. Orexigen Therapeutics has been the topic of 12 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Zacks given on Wednesday, August 5. The company was maintained on Friday, November 6 by RBC Capital Markets. The rating was maintained by Piper Jaffray on Saturday, August 8 with “Buy”. JP Morgan maintained the stock with “Buy” rating in Monday, August 10 report. RBC Capital Markets upgraded the shares of OREX in a report on Tuesday, September 15 to “” rating. The rating was downgraded by JMP Securities to “Market Perform” on Wednesday, March 16. Wells Fargo downgraded the stock to “Market Perform” rating in Friday, December 4 report. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) has “Underperform” rating given on Friday, December 11 by Bank of America. Piper Jaffray maintained it with “Overweight” rating and $11 target price in Tuesday, October 6 report.
According to Zacks Investment Research, “OREXIGEN THERAPEUTICS, INC. is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of central nervous system disorders, including obesity. The Company’s lead combination product candidates targeted for obesity are Contrave, which is in Phase III clinical trials, and Empatic, which is in the later stages of Phase II clinical development. Both product candidates are designed to take advantage of the Company’s understanding of how the brain appears to regulate appetite and energy expenditure, as well as the mechanisms that come into play to limit weight loss over time. Each product candidate is designed to act on a specific group of neurons in the central nervous system with the goal of achieving appetite suppression and sustained weight loss.”
Insitutional Activity: The institutional sentiment decreased to 0.27 in 2016 Q2. Its down 0.46, from 0.73 in 2016Q1. The ratio is negative, as 42 funds sold all Orexigen Therapeutics, Inc. shares owned while 28 reduced positions. 9 funds bought stakes while 10 increased positions. They now own 61.80 million shares or 34.69% less from 94.63 million shares in 2016Q1.
Raymond James & Assocs, a Florida-based fund reported 86,470 shares. Royal National Bank Of Canada accumulated 7,200 shares or 0% of the stock. Moreover, Citigroup has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 46,134 shares. Palo Alto Investors Ltd has invested 0.05% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Blackrock Institutional Tru Na accumulated 2.14M shares or 0% of the stock. Proshare Advsr Ltd Liability Corp has 0% invested in the company for 108,358 shares. Vanguard Group has invested 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). First Allied Advisory Ser holds 0% or 26,601 shares in its portfolio. Sterling Inv Management reported 15,025 shares or 2.22% of all its holdings. First Manhattan last reported 20,000 shares in the company. Barclays Public Lc has 27,332 shares for 0% of their US portfolio. Stifel Finance Corp, a Missouri-based fund reported 30,100 shares. Jpmorgan Chase Company holds 0% or 1,000 shares in its portfolio. Samlyn Cap Ltd Liability Com last reported 0.06% of its portfolio in the stock. Foresite Capital Mgmt Ii Ltd Company holds 1.6% or 5.43 million shares in its portfolio.
More notable recent Orexigen Therapeutics, Inc. (NASDAQ:OREX) news were published by: Prnewswire.com which released: “Orexigen Therapeutics to Speak at the Rodman & Renshaw 18th Annual Global …” on August 30, 2016, also Fool.com with their article: “Blame This for Orexigen Therapeutics, Inc.’s Mind-Numbingly Bad 2015” published on January 08, 2016, Prnewswire.com published: “Orexigen Therapeutics Announces Commercialization and Distributorship …” on August 30, 2016. More interesting news about Orexigen Therapeutics, Inc. (NASDAQ:OREX) were released by: Prnewswire.com and their article: “Orexigen Therapeutics Announces Commercialization and Distributorship …” published on August 01, 2016 as well as Fool.com‘s news article titled: “Why Orexigen Therapeutics, Inc.’s Stock Is Losing Weight Today” with publication date: November 06, 2015.
OREX Company Profile
Orexigen Therapeutics, Inc., incorporated on September 12, 2002, is a biopharmaceutical company. The Firm 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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