Orexigen Therapeutics, Inc. (OREX) Releases Earnings Results
Orexigen Therapeutics, Inc. (NASDAQ:OREX) issued its earnings results on Monday. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.13) by $0.78, Briefing.com reports. The company had revenue of $18.90 million during the quarter, compared to analyst estimates of $24.20 million. Orexigen Therapeutics had a negative net margin of 120.77% and a negative return on equity of 824.15%. The company’s revenue for the quarter was up 170.0% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS.
Orexigen Therapeutics (NASDAQ OREX) traded up $0.11 during trading on Tuesday, hitting $1.76. 703,100 shares of the stock were exchanged, compared to its average volume of 328,989. The company has a current ratio of 2.74, a quick ratio of 2.36 and a debt-to-equity ratio of -4.08. Orexigen Therapeutics has a fifty-two week low of $1.58 and a fifty-two week high of $5.70.
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A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered 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 report on Friday, September 1st.
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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