Albany, New York (09/23/2014) – Orexigen Therapeutics, Inc. (NASDAQ:OREX) witnessed one of its insiders reducing his exposure to the stock. The company Vice President, Heather D. Tuner, unloaded 300,000 shares of Orexigen Therapeutics (OREX) at an average price of $4.47 apiece. The transaction was completed Monday this week. The insider selling came when shares of Orexigen Therapeutics (OREX) are down almost 20% this year. Orexigen Therapeutics, Inc. (NASDAQ:OREX) recently had its obesity drug, Contrave, approved by the FDA, making it the third drug in the weight-loss category to hit the U.S. market in the last two years. Nearly 79 million of U.S. adults suffer from obese conditions, and about $147 billion was spent on medical costs relating to the same in 2008. Analysts at Wells Fargo estimate that Contrave could fetch $634 million in sales in 2020.
American Capital Agency Corp. (NASDAQ:AGNC) and American Capital Mortgage Investment Corp. (MTGE) announced plans to hold their Mortgage REIT Day on October 1. That would be the first of such meetings. The companies said their internal leaders and external industry experts will participate in the important event, which is also expected to be an eye-opener to investors. The Mortgage REIT Day event comes ahead of American Capital Agency Corp. (NASDAQ:AGNC)’s earlier declared cash dividend of $0.65 per share. The company said the dividend will be paid on October 27, and will capture shareholders of record as of September 30.
Xerox Corp (NYSE:XRX) fell 2.36% yesterday on the weight of the negative move on the stock by analysts at Standpoint Research. The analysts downgraded the stock to a “hold” from a “buy”. A number of analysts have also recently weighed in on Xerox Corp (NYSE:XRX). Such include analysts at Morgan Stanley (NYSE:MS) who maintained an “overweight” view on the stock and issued a target price of $15. Analysts at Susquehanna also recently increased their target price on the stock to $16.50 from $14. All that happened while Xerox Corp (NYSE:XRX) continues to realign its system. The company recently announced plans to move its sales training operations to its Webster campus from Virginia. Such moves and many others are expected to help the company take greater control of its costs while boosting performance.