Orexigen Therapeutics (OREX) has been under a strong bear grip, hence the stock is down -17.78% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 11.47% in the past 1 week. The stock has risen by 11.94% in the past week indicating that the buyers are active at lower levels, but the stock is down -15.73% in the past 4 weeks.
Orexigen Therapeutics (NASDAQ:OREX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.51 and $3.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.75, notching a gain of 6.84% for the day. The total traded volume was 254,267 . The stock had closed at $3.51 on the previous day.
The stock has recorded a 20-day Moving Average of 3.28% and the 50-Day Moving Average is 9.91%. Orexigen Therapeutics, Inc. has dropped 1.32% during the last 3-month period . Year-to-Date the stock performance stands at -78.2%.
Orexigen Therapeutics (OREX) stock is expected to deviate a maximum of $0.71 from the average target price of $5.5 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $6 and the most muted being $5.
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.