Adherex Technologies Inc. (NASDAQ:FENC) Receives $15.40 Consensus PT from Brokerages

Adherex Technologies Inc. (NASDAQ:FENC) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $15.40.

A number of research analysts recently issued reports on the company. HC Wainwright boosted their price target on Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen upgraded Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a research note on Friday, July 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Adherex Technologies in a research note on Thursday, April 16th.

Adherex Technologies Stock Down 5.4%

Shares of Adherex Technologies stock opened at $10.94 on Tuesday. The company’s fifty day simple moving average is $10.02 and its two-hundred day simple moving average is $8.51. Adherex Technologies has a 12-month low of $5.65 and a 12-month high of $11.66. The firm has a market cap of $383.56 million, a PE ratio of -37.72 and a beta of 1.09.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $15.11 million during the quarter, compared to the consensus estimate of $13.90 million. Adherex Technologies had a negative net margin of 17.12% and a negative return on equity of 43.87%. As a group, sell-side analysts expect that Adherex Technologies will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adherex Technologies stock. Jane Street Group LLC purchased a new position in Adherex Technologies Inc. (NASDAQ:FENC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies as of its most recent SEC filing. Institutional investors and hedge funds own 55.51% of the company’s stock.

About Adherex Technologies

Fennec Pharmaceuticals Inc, a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States. Its lead product candidate is the Sodium Thiosulfate, which has completed the Phase III clinical trial for the prevention of cisplatin induced hearing loss or ototoxicity in children. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.