Revenue Update on Orexigen Therapeutics(NASDAQ:OREX)

Orexigen Therapeutics(NASDAQ:OREX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 28, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $13.883M. Analysts estimated a revenue of $12.540M. The revenues were 10.71% above the estimates. Earnings per share were $-2.81. The reported EPS was below estimates by -38.42%. Analysts had estimated an EPS of $-2.03.

Orexigen Therapeutics (OREX) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.50% at a volume of 1,40,278. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.05. The peak price level was also seen at $4.05 while the days lowest was $3.874. Finally the shares closed at $3.98. The 52-week high of the shares is $6.49 while the 52-week low is $1.65. According to the latest information available, the market cap of the company is $58 M.

Several Insider Transactions has been reported to the SEC. On Dec 21, 2016, Stephen A. Moglia (VP, Chief Accounting Officer) sold 800 shares at $1.96 per share price.Also, On Mar 2, 2015, Mark D Booth (Chief Commercial Officer) sold 50,000 shares at $5.68 per share price.

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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