Orexigen Therapeutics (OREX) Price Target Raised to $14-$15 at Wells Fargo

Wells Fargo maintained an Outperform rating on Orexigen Therapeutics (NASDAQ: OREX) and raised its price target to $14-$15 (from $11-$12). Earlier Takeda Pharmaceuticals and Orexigen Therapeutics jointly announced that the FDA has approved Contrave extended-release tablets for chronic weight management.

Analyst Matthew J. Andrews expects a stronger launch than VIVUS (NASDAQ: VVUS) in 2012 and Arena Pharma (NASDAQ: ARNA) in 2013. He also said likelihood of CHMP recommendation for approval has increased.

For an analyst ratings summary and ratings history on Orexigen Therapeutics click here. For more ratings news on Orexigen Therapeutics click here.

Shares of Orexigen Therapeutics closed at $5.90 yesterday.

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