Orexigen Therapeutics, Inc. (NASDAQ:OREX) posted its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.40) by $0.58, Morningstar.com reports. The business had revenue of $23.36 million during the quarter, compared to analyst estimates of $20 million. Orexigen Therapeutics had a negative net margin of 149.02% and a negative return on equity of 580.50%. The company’s revenue was up 199.9% on a year-over-year basis. During the same period in the prior year, the business posted ($1.73) earnings per share.

Orexigen Therapeutics (OREX) traded up 0.86% during trading on Wednesday, hitting $2.35. 96,520 shares of the company’s stock were exchanged. Orexigen Therapeutics has a 12-month low of $1.65 and a 12-month high of $5.70. The firm’s market cap is $35.78 million. The company’s 50-day moving average price is $2.76 and its 200 day moving average price is $3.34.

A number of equities analysts have weighed in on the stock. 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.

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A number of hedge funds have recently modified their holdings of OREX. EcoR1 Capital LLC acquired a new stake in shares of Orexigen Therapeutics during the first quarter worth about $405,000. KCG Holdings Inc. raised its stake in shares of Orexigen Therapeutics by 30.0% in the first quarter. KCG Holdings Inc. now owns 43,954 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 10,139 shares during the period. Old West Investment Management LLC raised its stake in shares of 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 worth $711,000 after buying an additional 669 shares during the period. Foresite Capital Management II LLC raised its stake in shares of 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 worth $2,140,000 after buying an additional 79,258 shares during the period. Finally, Foresite Capital Management III LLC raised its stake in shares of Orexigen Therapeutics by 49.7% in the first quarter. Foresite Capital Management III LLC now owns 380,530 shares of the biopharmaceutical company’s stock worth $1,309,000 after buying an additional 126,273 shares during the period. Institutional investors own 45.18% of the company’s stock.

Orexigen Therapeutics Company Profile

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.

Earnings History for Orexigen Therapeutics (NASDAQ:OREX)

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