The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) reached all time low today, Oct, 10 and still has $2.73 target or 14.00% below today’s $3.17 share price. This indicates more downside for the $45.41M company. This technical setup was reported by Barchart.com. If the $2.73 PT is reached, the company will be worth $6.36M 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 46,328 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. Wells Fargo downgraded Orexigen Therapeutics, Inc. (NASDAQ:OREX) on Friday, December 4 to “Market Perform” rating. The firm has “Overweight” rating given on Tuesday, October 6 by Piper Jaffray. The firm has “” rating by RBC Capital Markets given on Tuesday, September 15. As per Friday, November 6, the company rating was maintained by RBC Capital Markets. On Saturday, August 8 the stock rating was maintained by Piper Jaffray with “Buy”. The company was reinitiated on Friday, December 11 by Bank of America. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) earned “Market Perform” rating by JMP Securities on Wednesday, March 16. On Wednesday, August 5 the stock rating was upgraded by Zacks to “Sell”. JP Morgan maintained it with “Buy” rating and $8 target price in Monday, August 10 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 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.
Millennium Mngmt Ltd Liability Co has 0% invested in the company for 654,000 shares. Pnc Grp Incorporated holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 859 shares. Creative Planning accumulated 0% or 510,188 shares. Samlyn Limited Liability Corporation holds 0.06% or 6.16 million shares in its portfolio. Blackrock Fund Advsr holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 1.96M shares. Commercial Bank Of New York Mellon Corporation accumulated 184,487 shares or 0% of the stock. Janney Montgomery Scott Lc reported 50,565 shares or 0% of all its holdings. Proshare Limited Liability accumulated 108,358 shares or 0% of the stock. Sterling Invest Mngmt Inc, a Arizona-based fund reported 15,025 shares. Citigroup accumulated 46,134 shares or 0% of the stock. Bvf Il accumulated 0.48% or 5.25M shares. Barclays Public Limited Com has 0% invested in the company for 27,332 shares. Susquehanna Group Llp last reported 114,630 shares in the company. The New York-based First Manhattan has invested 0% in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Geode Management Ltd Liability has 0% invested in the company for 656,922 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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