Today’s Market Runner: What’s Next for Orexigen Therapeutics, Inc. After Today’s Big Decline?

Today's Market Runner: What's Next for Orexigen Therapeutics, Inc. After Today's Big Decline?

The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) is a huge mover today! About 105,430 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.
The move comes after 8 months negative chart setup for the $43.23M company. It was reported on Oct, 10 by Barchart.com. We have $2.63 PT which if reached, will make NASDAQ:OREX worth $5.62 million less.

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. On Wednesday, March 16 the stock rating was downgraded by JMP Securities to “Market Perform”. Piper Jaffray maintained it with “Buy” rating and $21 target price in Saturday, August 8 report. The stock has “” rating given by RBC Capital Markets on Tuesday, September 15. The rating was reinitiated by Bank of America with “Underperform” on Friday, December 11. As per Friday, December 4, the company rating was downgraded by Wells Fargo. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) has “Outperform” rating given on Friday, November 6 by RBC Capital Markets. Zacks upgraded Orexigen Therapeutics, Inc. (NASDAQ:OREX) on Wednesday, August 5 to “Sell” rating. The rating was maintained by Piper Jaffray on Tuesday, October 6 with “Overweight”. The stock has “Buy” rating given by JP Morgan on Monday, August 10.

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.
Proshare Ltd Llc has 108,358 shares for 0% of their US portfolio. Rock Springs Mngmt Ltd Partnership has invested 0.05% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Lmr Llp reported 127,844 shares or 0.01% of all its holdings. Blackrock Fund Advsr accumulated 1.96M shares or 0% of the stock. Group One Trading Ltd Partnership last reported 0% of its portfolio in the stock. Citadel Advsrs Limited Liability Corp holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 812,558 shares. Jpmorgan Chase & holds 1,000 shares or 0% of its portfolio. Stifel Fincl reported 30,100 shares or 0% of all its holdings. Samlyn Cap Ltd Liability Company holds 0.06% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 6.16 million shares. Creative Planning owns 510,188 shares or 0% of their US portfolio. The Pennsylvania-based Susquehanna Grp Llp has invested 0% in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Palo Alto Investors Limited last reported 0.05% of its portfolio in the stock. Citigroup, a New York-based fund reported 46,134 shares. Schwab Charles Invest, a California-based fund reported 32,750 shares. Tower Cap Limited Liability Corporation (Trc) holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 29,200 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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