Orexigen Therapeutics Given New $10.00 Price Target at Bank of America (OREX)

Orexigen Therapeutics (NASDAQ:OREX) had its target price boosted by Bank of America from $9.00 to $10.00 in a report issued on Friday. They currently have a buy rating on the stock.

Shares of Orexigen Therapeutics (NASDAQ:OREX) traded down 1.16% on Friday, hitting $5.99. 264,062 shares of the company’s stock traded hands. Orexigen Therapeutics has a 52-week low of $3.11 and a 52-week high of $7.82. The stock’s 50-day moving average is $5.87 and its 200-day moving average is $5.26. The company’s market cap is $737.8 million.

Orexigen Therapeutics (NASDAQ:OREX) last announced its earnings results on Monday, November 10th. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.13) by $0.22. The company had revenue of $30.90 million for the quarter, compared to the consensus estimate of $8.93 million. On average, analysts predict that Orexigen Therapeutics will post $-0.13 earnings per share for the current fiscal year.

A number of other firms have also recently commented on OREX. Analysts at Zacks reiterated a neutral rating on shares of Orexigen Therapeutics in a research note on Wednesday, November 12th. They now have a $5.25 price target on the stock. Separately, analysts at Wells Fargo & Co. reiterated an outperform rating on shares of Orexigen Therapeutics in a research note on Monday, November 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $9.85.

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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