How Does The Future Look For Orexigen Therapeutics Inc (OREX) and Real Goods Solar Inc (RGSE)?
New York, NY – GDP INSIDER – 03/18/2015.
This article discusses two companies: Orexigen Therapeutics Inc (NASDAQ:OREX) and Real Goods Solar Inc (NASDAQ:RGSE)
Orexigen Therapeutics Inc (NASDAQ:OREX) bounced back yesterday after falling sharply on Monday with the stock closing up 7.88% or $0.55 at $7.53 on higher than average trading of 7.186 million shares, compared to its three month average volume of 5.138 million. Orexigen Therapeutics Inc recently gained approval from the Food and Drug Administration for its new drug Contrave, which boosted the stock price to a 52 week high of $9.37. However, the biopharmaceutical company, which focuses on obesity treatments, is under investigation and facing impending litigation over potential inaccurate disclosures on Contrave’s testing results, which drove the price down on Monday. Despite the current controversy, the stock is still doing well so far this year with the value up 24.26% YTD although, with RSI of 62.91 and the MACD approaching a bearish crossover, the stock may yet fall back before it has a chance to gain again, making it a hold.
Real Goods Solar Inc (NASDAQ:RGSE) soared 11.57% or $0.0325 yesterday to close at $0.3135 on very heavy trading, with more than 5.748 million shares changing hands, compared to its three month average trading volume of 1.556 million. The residential and commercial solar power construction firm started climbing after announcing it had renewed its $5 million line of credit and also extended $3.15 million in loans until the end of this month. With the increased liquidity, it can move forward with its partnership with Centrolsolar America, giving it extra installation capacity for its rooftop solar panels and clear its large backlog of installations. The stock has been steadily declining for the last 52 weeks losing 92.48% and is already down 35.10% so far this year compared to the S&P 500 which is up 0.74% YTD. If Real Goods Solar Inc can clear its backlog then it could be a good medium to long term investment.
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