The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) reached all time low today, Oct, 17 and still has $2.45 target or 10.00% below today’s $2.72 share price. This indicates more downside for the $38.18M company. This technical setup was reported by Barchart.com. If the $2.45 PT is reached, the company will be worth $3.82M 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 95,582 shares traded hands. Orexigen Therapeutics, Inc. (NASDAQ:OREX) has declined 59.86% since March 14, 2016 and is downtrending. It has underperformed by 65.47% 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 company was downgraded on Wednesday, March 16 by JMP Securities. The firm earned “Sell” rating on Wednesday, August 5 by Zacks. RBC Capital Markets maintained Orexigen Therapeutics, Inc. (NASDAQ:OREX) rating on Friday, November 6. RBC Capital Markets has “Outperform” rating and $5 price target. On Friday, December 11 the stock rating was reinitiated by Bank of America with “Underperform”. The firm has “Buy” rating given on Monday, August 10 by JP Morgan. The company was downgraded on Friday, December 4 by Wells Fargo. The stock of Orexigen Therapeutics, Inc. (NASDAQ:OREX) earned “Buy” rating by Piper Jaffray on Saturday, August 8. The rating was upgraded by RBC Capital Markets to “” on Tuesday, September 15. The rating was maintained by Piper Jaffray on Tuesday, October 6 with “Overweight”.
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.
Raymond James & Assoc last reported 86,470 shares in the company. Susquehanna Group Inc Limited Liability Partnership holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 114,630 shares. Federated Investors Inc Pa owns 64,851 shares or 0% of their US portfolio. The Ohio-based Huntington Natl Bank has invested 0% in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Rock Springs Mngmt Lp has invested 0.05% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). First Allied Advisory has invested 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Moreover, Ladenburg Thalmann Financial Services has 0% invested in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 850 shares. Morgan Stanley reported 3.36 million shares or 0% of all its holdings. Barclays Public Limited Co owns 27,332 shares or 0% of their US portfolio. Baupost Gru Ltd Liability Ma last reported 0.13% of its portfolio in the stock. Lmr Prtn Llp accumulated 127,844 shares or 0.01% of the stock. One Trading Limited Partnership last reported 53,905 shares in the company. Goldman Sachs Gp owns 422,161 shares or 0% of their US portfolio. The Illinois-based Northern Tru Corp has invested 0% in Orexigen Therapeutics, Inc. (NASDAQ:OREX). Millennium Mngmt Ltd Liability Corporation holds 0% of its portfolio in Orexigen Therapeutics, Inc. (NASDAQ:OREX) for 654,000 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 30, 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 01, 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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