Orexigen Therapeutics (OREX) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.16. The company posted revenue of $5.00 million in the period, compared to analysts expectations of $7.89 million. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.
Many Wall Street Analysts have commented on Orexigen Therapeutics. Shares were Reiterated by RBC Capital Mkts on Mar 16, 2016 to “Sector Perform” and Lowered the Price Target to $ 0.60 from a previous price target of $1 .Orexigen Therapeutics was Downgraded by JMP Securities to ” Mkt Perform” on Mar 16, 2016. Orexigen Therapeutics was Downgraded by Piper Jaffray to ” Neutral” on Mar 16, 2016.
Orexigen Therapeutics opened for trading at $0.48 and hit $0.4863 on the upside on Monday, eventually ending the session at $0.467, with a gain of 4.47% or 0.02 points. The heightened volatility saw the trading volume jump to 36,36,341 shares. Company has a market cap of $68 M.
In a different news, on Mar 2, 2015, Mark D Booth (Chief Commercial Officer) sold 50,000 shares at $5.68 per share price.
Orexigen Therapeutics Inc. (Orexigen) is a biopharmaceutical company. The Company is focused on the development of pharmaceutical product candidates for the treatment of obesity. The Company’s product is Contrave a fixed dose combination of bupropion hydrochloride (HCl) extended release (ER) and naltrexone HCl ER. The Company’s product Contrave is approved in the United States by the United States Food and Drug Administration (FDA) 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 around 30 kilograms per square meter (kg/m2) or greater (obese) or around 27 kilograms per square meter or greater (overweight) in the presence of at least one weight-related comorbid condition. The Company also submitted an application for marketing authorization with the European Medicines Agency (EMA) for Contrave under the name Mysimba.