Stock Buzzer: Orexigen Therapeutics, Inc. Surges to All-Time Low, Is Now Worst Performer

Stock Buzzer: Orexigen Therapeutics, Inc. Surges to All Time Low, Is Now Worst Performer

The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) reached all time low today, Oct, 31 and still has $2.19 target or 14.00% below today’s $2.55 share price. This indicates more downside for the $34.33 million company. This technical setup was reported by Barchart.com. If the $2.19 PT is reached, the company will be worth $4.81M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 77,463 shares traded hands. Orexigen Therapeutics, Inc. (NASDAQ:OREX) has declined 53.39% since March 29, 2016 and is downtrending. It has underperformed by 56.86% the S&P500.

Analysts await Orexigen Therapeutics, Inc. (NASDAQ:OREX) to report earnings on November, 3. They expect $-1.23 earnings per share, down 36.67% or $0.33 from last year’s $-0.9 per share. After $-1.73 actual earnings per share 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 rating was maintained by JP Morgan with “Buy” on Monday, August 10. As per Saturday, August 8, the company rating was maintained by Piper Jaffray. The company was upgraded on Wednesday, August 5 by Zacks. The rating was maintained by Piper Jaffray with “Overweight” on Tuesday, October 6. The firm has “Market Perform” rating by JMP Securities given on Wednesday, March 16. RBC Capital Markets maintained it with “Outperform” rating and $5 target price in Friday, November 6 report. The firm earned “Underperform” rating on Friday, December 11 by Bank of America. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) earned “Market Perform” rating by Wells Fargo on Friday, December 4. The stock has “” rating given by RBC Capital Markets on Tuesday, September 15.

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 Q2 2016. Its down 0.46, from 0.73 in 2016Q1. The ratio dived, 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.
Moreover, Ladenburg Thalmann has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 850 shares. New York State Common Retirement Fund, a New York-based fund reported 93,400 shares. Stifel Fincl Corp accumulated 30,100 shares or 0% of the stock. Schwab Charles Investment Mngmt Inc accumulated 32,750 shares or 0% of the stock. Kcg Hldgs has invested 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Goldman Sachs Group, a New York-based fund reported 422,161 shares. Citadel Advsrs Limited, a Illinois-based fund reported 812,558 shares. Blackrock Institutional Na has 2.14M shares for 0% of their US portfolio. Nea Mgmt Ltd, a Maryland-based fund reported 370,900 shares. The New York-based Renaissance Tech Ltd Liability has invested 0% in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Jpmorgan Chase Communications owns 1,000 shares or 0% of their US portfolio. Wells Fargo & Mn, a California-based fund reported 59,853 shares. Baupost Grp Inc Limited Liability Com Ma holds 0.13% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 22.27 million shares. Morgan Stanley has invested 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Foresite Capital Management Ii Ltd Co reported 5.43 million shares or 1.6% of all its holdings.

More recent Orexigen Therapeutics, Inc. (NASDAQ:OREX) news were published by: Fool.com which released: “Blame This for Orexigen Therapeutics, Inc.’s Mind-Numbingly Bad 2015” on January 08, 2016. Also Prnewswire.com published the news titled: “Orexigen Therapeutics Announces Commercialization and Distributorship …” on August 01, 2016. Fool.com‘s news article titled: “Why Orexigen Therapeutics, Inc.’s Stock Is Losing Weight Today” with publication date: November 06, 2015 was also an interesting one.

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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