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Ivy Investment Group continues to track OREX, raises forecast

|Includes:Orexigen Therapeutics, Inc. (OREX)
Orexigen Therapeutics, Inc. (Orexigen) is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity. Its combination product candidates targeted for obesity are Contrave which has completed Phase III clinical trials, and Empatic, which has completed Phase II clinical trials. Contrave is a combination of two drugs, bupropion and naltrexone, in a sustained release (NYSE:SR) formulation. Bupropion is a prescribed antidepressant and smoking cessation medication; naltrexone is a treatment for alcohol and opioid addiction. Empatic is a combination of bupropion SR and zonisamide SR. Zonisamide, in a release formulation, was approved in the United States for the adjunctive treatment of partial seizures, a form of epilepsy. These product candidates regulate appetite and energy expenditure through the central nervous system (NYSE:CNS).

Drug Type: Weight Loss
Current FDA Status: Pending Decision
Current Drug Phase: Phase 3

The 7 analysts offering 12-month price forecasts for Orexigen Therapeutics Inc have a median target of 12.00, with a high estimate of 14.00 and a low estimate of 8.00. The median estimate represents a +106.90% increase from the last price of 5.80.

The current consensus among 9 polled investment analysts is to Buy stock in Orexigen Therapeutics Inc. This rating has held steady since November, when it was unchanged from a Buy rating.

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Happy Huntin',

Maurice Ivy
Senior Partner
Ivy, Whitfield, and Associates, G.P.

Disclosure: Long OREX
Stocks: OREX