Orexigen Therapeutics (OREX +13.2%) soars again today on the back of the FDA's approval of Arena...

|About: Orexigen Therapeutics, Inc. (OREX)|By:, SA News Editor

Orexigen Therapeutics (OREX +13.2%) soars again today on the back of the FDA's approval of Arena Pharmaceuticals (ARNA) Belviq weight loss drug. JPMorgan ups the stock to Overweight, saying it "stands to be the biggest beneficiary" as approval for its own weight loss drug, Contrave, is still far off, which leaves a valuation gap with rivals whose drugs are closer to approval.