Orexigen (OREX) Gains On Potential Marketing Approval for Mysimba in Europe

Shares of Orexigen Therapeutics, Inc. (OREX) are higher by 4.77% to $7.25 in mid-morning trading on Thursday, as the stock continues to see gains following a potential marketing authorization for weight loss drug Mysimba in Europe.

During today’s trading session, OREX opened 3 cents lower from the previous close but it has managed to move up to currently log almost a 5% intraday gain. Ticker seems to have settled for the moment into a range of $6.64 to $7.40 with its 52-week range being $3.11 to $9.37. Approximately 4 million shares have already changed hands, compared to the stock’s average daily volume of 8.14 million shares.

Fundamentally, OREX shows the following financial data:

  • $205.54 million in cash in most recent quarter
  • $212.98 million t-12 total assets
  • $22.34 million total equity
  • $55.52 million t-12 revenue
  • ($37.53) million annual net income
  • $26.58 million free cash flow

On valuation measures, Orexigen Therapeutics Inc. shares have a T-12 price/sales ratio of 15.42 and a price/book for the same period of 38.23. EPS is ($0.34). The name has a market cap of $893.31 million and a median Wall Street price target of $11.00 with a high target of $26.00. Currently there are 8 analysts that rate OREX a ‘Buy’. No analyst rates it a ‘Hold’ or a ‘Sell’.

In terms of share statistics, Orexigen Therapeutics Inc. has a total of 123.46 million shares outstanding with 9.05% held by insiders and 79.60% held by institutions. The stock’s short interest currently stands at 33.54%, bringing the total number of shares sold short to 34.28 million.

Shares of the La Jolla California-based biopharmaceutical company are up 1.17% year-over-year and 14.19% year-to-date.

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