Foresite Capital Management Ii Lowers stake in Orexigen Therapeutics (OREX)

Orexigen Therapeutics (OREX) : Foresite Capital Management Ii reduced its stake in Orexigen Therapeutics by 16.01% during the most recent quarter end. The investment management company now holds a total of 542,756 shares of Orexigen Therapeutics which is valued at $2,268,720 after selling 103,452 shares in Orexigen Therapeutics , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Orexigen Therapeutics makes up approximately 1.44% of Foresite Capital Management Ii’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies reduced its stake in OREX by selling 183,160 shares or 76.92% in the most recent quarter. The Hedge Fund company now holds 54,950 shares of OREX which is valued at $229,691. Fmr sold out all of its stake in OREX during the most recent quarter. The investment firm sold 741,276 shares of OREX which is valued $3,098,534.Janney Montgomery Scott boosted its stake in OREX in the latest quarter, The investment management firm added 2,072 additional shares and now holds a total of 5,057 shares of Orexigen Therapeutics which is valued at $18,964.

Orexigen Therapeutics closed down -0.02 points or -0.52% at $3.83 with 98,271 shares getting traded on Monday. Post opening the session at $3.87, the shares hit an intraday low of $3.65 and an intraday high of $3.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Orexigen Therapeutics reported $-1.73 EPS for the quarter, missing the analyst consensus estimate by $ -0.59 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-1.14. The company had revenue of $7.79 million for the quarter, compared to analysts expectations of $7.40 million. The company’s revenue was up 50.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.

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 Company’s product is Contrave a fixed dose combination of bupropion hydrochloride (HCl) extended release (ER) and naltrexone HCl ER. The Company’s 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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