Company Description
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. The company's lead combination product candidates targeted for obesity are Contrave, which is in Phase III clinical trials, and Empatic, which is in the later stages of Phase II clinical development. Each of these product candidates is a combination of generic drugs, which it has systematically screened for synergistic central nervous system, or CNS, activity. Each of the components of its product candidates has already received regulatory approval and has been commercialized previously.
Faizan's take
OREX last closed at $3.34 a share. Recently it broke out of a well formed symmetric triangle. It has potential to give a decent profit within the next year.
Suggested price target $4.47 (34% gain).
NOTE: Suggested price targets are very flexible and may change as the price action unfolds. Targets are only suggested to give readers a rough estimate of what to expect from the stock and they should not be used by investors as absolute sell points
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