Orexigen Therapeutics, Inc. (NASDAQ:OREX) announced its earnings results on Tuesday. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.40) by $0.58, Morningstar.com reports. Orexigen Therapeutics had a negative net margin of 120.77% and a negative return on equity of 406.28%. The business had revenue of $23.36 million during the quarter, compared to analyst estimates of $20 million. During the same period in the previous year, the business posted ($1.73) earnings per share. Orexigen Therapeutics’s revenue for the quarter was up 199.9% on a year-over-year basis.
Shares of Orexigen Therapeutics (NASDAQ:OREX) traded down 2.55% during midday trading on Thursday, reaching $2.29. 28,851 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $2.71 and its 200 day moving average price is $3.33. The firm’s market capitalization is $34.87 million. Orexigen Therapeutics has a one year low of $1.65 and a one year high of $5.70.
Several equities research analysts have issued reports on OREX shares. ValuEngine upgraded shares of Orexigen Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Orexigen Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Old West Investment Management LLC increased its position in Orexigen Therapeutics by 0.3% in the first quarter. Old West Investment Management LLC now owns 206,687 shares of the biopharmaceutical company’s stock valued at $711,000 after buying an additional 669 shares during the last quarter. Wells Fargo & Company MN increased its position in Orexigen Therapeutics by 2.5% in the second quarter. Wells Fargo & Company MN now owns 45,638 shares of the biopharmaceutical company’s stock valued at $132,000 after buying an additional 1,100 shares during the last quarter. KCG Holdings Inc. increased its position in Orexigen Therapeutics by 30.0% in the first quarter. KCG Holdings Inc. now owns 43,954 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 10,139 shares during the last quarter. Foresite Capital Management II LLC increased its position in Orexigen Therapeutics by 14.6% in the first quarter. Foresite Capital Management II LLC now owns 622,013 shares of the biopharmaceutical company’s stock valued at $2,140,000 after buying an additional 79,258 shares during the last quarter. Finally, EcoR1 Capital LLC purchased a new position in Orexigen Therapeutics during the first quarter worth approximately $405,000. Institutional investors and hedge funds own 45.18% of the company’s stock.
About Orexigen Therapeutics
Orexigen Therapeutics, Inc is a biopharmaceutical company. The Company 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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