Short Interest in Orexigen Therapeutics Expands By 8.8% (OREX)
Shares of Orexigen Therapeutics (NASDAQ:OREX) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 19,994,022 shares, a growth of 8.8% from the April 15th total of 18,376,599 shares, Analyst Ratings News reports. Approximately 20.2% of the shares of the company are sold short. Based on an average trading volume of 1,999,972 shares, the short-interest ratio is currently 10.0 days.
Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Orexigen Therapeutics in a research note on Thursday, April 24th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $9.60.
Shares of Orexigen Therapeutics (NASDAQ:OREX) opened at 5.66 on Thursday. Orexigen Therapeutics has a one year low of $4.60 and a one year high of $7.84. The stock’s 50-day moving average is $5. and its 200-day moving average is $6.10. The company’s market cap is $631.7 million.
Orexigen Therapeutics (NASDAQ:OREX) last announced its earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.03. On average, analysts predict that Orexigen Therapeutics will post $0.01 earnings per share for the current fiscal year.
Orexigen Therapeutics, Inc develops drug treatments for obesity and related disorders. Orexigen Therapeutics, Inc develops and commercializes combinations of currently available drugs that are designed to achieve and sustain weight loss by enhancing satiety, diminishing appetite, improving energy expenditure and minimizing the body’s efforts to compensate for weight loss.
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