Brokerages Expect Orexigen Therapeutics, Inc. (OREX) Will Post Earnings of -$2.13 Per Share

Brokerages forecast that Orexigen Therapeutics, Inc. (NASDAQ:OREX) will report earnings per share (EPS) of ($2.13) for the current quarter, Zacks reports. Zero analysts have issued estimates for Orexigen Therapeutics’ earnings. Orexigen Therapeutics posted earnings per share of ($1.01) in the same quarter last year, which indicates a negative year over year growth rate of 110.9%. The company is expected to issue its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Orexigen Therapeutics will report full year earnings of ($10.77) per share for the current financial year. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Orexigen Therapeutics.

Orexigen Therapeutics (NASDAQ:OREX) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.40) by $0.58. The business had revenue of $23.36 million for the quarter, compared to analysts’ expectations of $20.00 million. Orexigen Therapeutics had a negative net margin of 120.77% and a negative return on equity of 824.15%. The company’s revenue was up 199.9% compared to the same quarter last year. During the same quarter last year, the company posted ($1.73) EPS.

OREX has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Orexigen Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded shares of Orexigen Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EcoR1 Capital LLC purchased a new position in Orexigen Therapeutics during the first quarter valued at $405,000. Wells Fargo & Company MN lifted its holdings in Orexigen Therapeutics by 2.5% during the second quarter. Wells Fargo & Company MN now owns 45,638 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 1,100 shares in the last quarter. Finally, KCG Holdings Inc. lifted its holdings in Orexigen Therapeutics by 30.0% during the first quarter. KCG Holdings Inc. now owns 43,954 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 10,139 shares in the last quarter. 39.66% of the stock is currently owned by hedge funds and other institutional investors.

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About Orexigen Therapeutics

Orexigen Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the treatment of obesity. The Company’s product, Contrave, is approved in the United States by the United States Food and Drug Administration 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 30 kilograms per square meter or greater (obese) or 27 kilograms per square meter or greater (overweight) in the presence of a weight-related comorbid condition.

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