The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) reached all time low today, Sep, 30 and still has $2.99 target or 10.00% below today’s $3.32 share price. This indicates more downside for the $47.12M company. This technical setup was reported by Barchart.com. If the $2.99 PT is reached, the company will be worth $4.71 million 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 80,913 shares traded hands. Orexigen Therapeutics, Inc. (NASDAQ:OREX) has declined 67.01% since February 26, 2016 and is downtrending. It has underperformed by 77.44% 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 firm has “Market Perform” rating given on Wednesday, March 16 by JMP Securities. The firm has “Sell” rating by Zacks given on Wednesday, August 5. Piper Jaffray maintained it with “Buy” rating and $21 target price in Saturday, August 8 report. Wells Fargo downgraded the shares of OREX in a report on Friday, December 4 to “Market Perform” rating. The stock has “Underperform” rating given by Bank of America on Friday, December 11. The company was maintained on Monday, August 10 by JP Morgan. On Tuesday, October 6 the stock rating was maintained by Piper Jaffray with “Overweight”. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, November 6 report. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) has “” rating given on Tuesday, September 15 by RBC Capital Markets.
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 dropped, 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.
Cqs Cayman Limited Partnership accumulated 113,000 shares or 0% of the stock. Jpmorgan Chase accumulated 1,000 shares or 0% of the stock. Barclays Public Limited Co last reported 27,332 shares in the company. Rock Springs Cap Mgmt L P last reported 1.65M shares in the company. Schwab Charles Investment Management Incorporated last reported 0% of its portfolio in the stock. Baupost Gp Limited Liability Ma owns 22.27 million shares or 0.13% of their US portfolio. Moreover, Tiverton Asset Mngmt Limited Liability Co has 0.18% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 45,313 shares. Tower Research Limited Liability (Trc) has 29,200 shares for 0% of their US portfolio. Federated Investors Pa accumulated 0% or 64,851 shares. Bvf Il has invested 0.48% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). New York State Common Retirement Fund has invested 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Royal Savings Bank Of Canada has 0% invested in the company for 7,200 shares. Blackrock Institutional Na owns 2.14M shares or 0% of their US portfolio. Citigroup Inc has 0% invested in the company for 46,134 shares. Nea Mngmt Ltd Liability last reported 0.08% of its portfolio in the stock.
More notable 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 with their article: “Orexigen Therapeutics Announces Commercialization and Distributorship …” published on August 30, 2016, Prnewswire.com published: “Orexigen Therapeutics Announces Stockholder Approval of All Proposals at 2016 …” on July 08, 2016. More interesting news about Orexigen Therapeutics, Inc. (NASDAQ:OREX) were released by: Prnewswire.com and their article: “Orexigen Therapeutics Expands Commercial Capabilities with Appointment of Beth …” published on April 25, 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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