Analyst Price Target Update on Orexigen Therapeutics (NASDAQ:OREX)

Orexigen Therapeutics (NASDAQ:OREX) shares are expected to touch $1.03 in the short term. This short term price target has been shared by 4 analysts. However, the standard deviation of short term price estimate has been valued at 0.69. The target price could hit $2 on the higher end and $1 on the lower end.

Many analysts have stated their opinion on the company shares. JMP Securities downgrades their rating on the shares of Orexigen Therapeutics (NASDAQ:OREX). The current rating of the shares is Market Perform. Earlier, the shares were rated a Market Outperform by the brokerage firm. The rating by the firm was issued on March 16, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities,The officer (Chief Commercial Officer) of Orexigen Therapeutics, Inc., Booth Mark D sold 50,000 shares at $5.68 on February 26, 2015. The Insider selling transaction had a total value worth of $284,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Orexigen Therapeutics (NASDAQ:OREX) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.0001 points or 0.02% at $0.47 with 1,722,363 shares getting traded. Post opening the session at $0.48, the shares hit an intraday low of $0.452 and an intraday high of $0.5 and the price was in this range throughout the day. The company has a market cap of $68 million and the number of outstanding shares have been calculated to be 145,567,820 shares. The 52-week high of Orexigen Therapeutics (NASDAQ:OREX) is $5.04 and the 52-week low is $0.3543.

Orexigen Therapeutics, Inc. (Orexigen) is a biopharmaceutical company. The Company is focused on the development of pharmaceutical product candidates for the treatment of obesity. The Companys product is Contrave, a fixed dose combination of bupropion hydrochloride (HCl) extended release (ER) and naltrexone HCl ER. The Companys product Contrave, is approved in the United States by the United States Food and Drug Administration (FDA) 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 around 30 kilograms per square meter (kg/m2) or greater (obese), or around 27 kilograms per square meter or greater (overweight) in the presence of at least one weight-related comorbid condition. The Company also submitted an application for marketing authorization with the European Medicines Agency (EMA) for Contrave under the name Mysimba.

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