Orexigen Therapeutics, Inc. (OREX) Issues Quarterly Earnings Results
Orexigen Therapeutics, Inc. (NASDAQ:OREX) announced its earnings results on Monday. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.13) by $0.78, Briefing.com reports. Orexigen Therapeutics had a negative net margin of 120.77% and a negative return on equity of 824.15%. The company had revenue of $18.90 million for the quarter, compared to the consensus estimate of $24.20 million. During the same period in the previous year, the business earned $1.12 EPS. The company’s revenue was up 170.0% on a year-over-year basis.
Orexigen Therapeutics (NASDAQ OREX) traded up $0.11 during midday trading on Tuesday, hitting $1.76. 703,100 shares of the stock were exchanged, compared to its average volume of 328,989. Orexigen Therapeutics has a 1-year low of $1.58 and a 1-year high of $5.70. The company has a debt-to-equity ratio of -4.08, a quick ratio of 2.36 and a current ratio of 2.74.
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A number of research firms have recently weighed in on OREX. Zacks Investment Research downgraded shares of Orexigen Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. ValuEngine downgraded shares of Orexigen Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.
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.
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