According to Zacks, “Orexigen’s sole marketed drug, Contrave, targets the obesity market which represents immense commercial potential. Low rates of penetration and awareness and the lack of safe and effective treatment options make the market highly lucrative. Contrave could bring in multi-million dollar sales for the company. We are positive on the company’s collaboration agreement with Valeant for the commercialization of the drug. However, Contrave sales are yet to pick up and Orexigen’s dependence on Contrave for growth and lack of pipeline candidates is concerning. Contrave is facing a patent challenge as well. Estimates have gone down ahead of the company’s Q3 earnings release. The company has an impressive track record of earnings surprises in the recent quarters.”
Orexigen Therapeutics (NASDAQ:OREX) opened at 2.81 on Wednesday. The stock’s 50 day moving average is $3.43 and its 200-day moving average is $4.11. The stock’s market capitalization is $40.99 million. Orexigen Therapeutics has a 52-week low of $2.80 and a 52-week high of $34.40.
Orexigen Therapeutics (NASDAQ:OREX) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.47) by $0.26. Orexigen Therapeutics had a negative net margin of 275.98% and a negative return on equity of 380.26%. The firm had revenue of $7.79 million for the quarter, compared to analysts’ expectations of $6.88 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 50.0% compared to the same quarter last year. Equities research analysts anticipate that Orexigen Therapeutics will post ($6.38) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. KCG Holdings Inc. boosted its stake in Orexigen Therapeutics by 231.5% in the second quarter. KCG Holdings Inc. now owns 264,713 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 184,861 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Orexigen Therapeutics by 34.8% in the first quarter. Renaissance Technologies LLC now owns 2,381,100 shares of the biopharmaceutical company’s stock worth $1,340,000 after buying an additional 614,900 shares during the last quarter. Finally, BVF Inc. IL purchased a new stake in Orexigen Therapeutics during the second quarter worth approximately $2,258,000.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Orexigen Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orexigen Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.