The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) hit a new 52-week low and has $2.82 target or 11.00% below today’s $3.17 share price. The 7 months bearish chart indicates high risk for the $45.37M company. The 1-year low was reported on Oct, 10 by Barchart.com. If the $2.82 price target is reached, the company will be worth $4.99 million 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 14,197 shares traded hands. Orexigen Therapeutics, Inc. (NASDAQ:OREX) has declined 60.25% since March 7, 2016 and is downtrending. It has underperformed by 67.85% 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 stock has “Market Perform” rating given by JMP Securities on Wednesday, March 16. The firm earned “Overweight” rating on Tuesday, October 6 by Piper Jaffray. The company was upgraded on Wednesday, August 5 by Zacks. As per Saturday, August 8, the company rating was maintained by Piper Jaffray. RBC Capital Markets upgraded the stock to “” rating in Tuesday, September 15 report. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) has “Underperform” rating given on Friday, December 11 by Bank of America. The firm earned “Market Perform” rating on Friday, December 4 by Wells Fargo. As per Friday, November 6, the company rating was maintained by RBC Capital Markets. The rating was maintained by JP Morgan on Monday, August 10 with “Buy”.
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 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.
Moreover, New York State Common Retirement Fund has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 93,400 shares. Great West Life Assurance Comm Can holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 15,717 shares. Blackrock Fund Advsrs, a California-based fund reported 1.96 million shares. Moreover, Blackrock Advsrs Ltd Liability Corp has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 18,080 shares. First Allied Advisory Ser has 26,601 shares for 0% of their US portfolio. Geode Mngmt Ltd Co holds 656,922 shares or 0% of its portfolio. Stifel Fincl accumulated 0% or 30,100 shares. Moreover, Northern Corporation has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 213,228 shares. Moreover, Sg Americas Securities has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 48,329 shares. Huntington State Bank accumulated 3,689 shares or 0% of the stock. Cqs Cayman Lp owns 113,000 shares or 0% of their US portfolio. Fincl Bank Of America De has 240,880 shares for 0% of their US portfolio. Lpl Financial Limited Liability Company reported 10,850 shares or 0% of all its holdings. California Public Employees Retirement holds 335,200 shares or 0% of its portfolio. Ladenburg Thalmann Financial Ser, a Florida-based fund reported 850 shares.
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 01, 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 30, 2016 as well as Prnewswire.com‘s news article titled: “Orexigen Therapeutics Announces Stockholder Approval of All Proposals at 2016 …” with publication date: July 08, 2016.
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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