Orexigen Therapeutics, Inc. (OREX) Announces Quarterly Earnings Results, Beats Expectations By $0.78 EPS
Orexigen Therapeutics, Inc. (NASDAQ:OREX) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.13) by $0.78, Briefing.com reports. The company had revenue of $18.90 million during the quarter, compared to the consensus estimate of $24.20 million. Orexigen Therapeutics had a negative net margin of 120.77% and a negative return on equity of 824.15%. Orexigen Therapeutics’s revenue was up 170.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.12 EPS.
Orexigen Therapeutics (OREX) traded up $0.11 during trading on Tuesday, reaching $1.76. The company’s stock had a trading volume of 703,100 shares, 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 current ratio of 2.74 and a quick ratio of 2.36.
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OREX has been the topic of a number of research reports. Zacks Investment Research upgraded Orexigen Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Monday, August 14th. ValuEngine downgraded 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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