Adherex Technologies (NASDAQ:FENC) Price Target Raised to $16.00

Adherex Technologies (NASDAQ:FENC) had its price target upped by Wedbush from $13.00 to $16.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the company. Wall Street Zen upgraded Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. HC Wainwright lifted their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a report on Friday, July 17th. Finally, Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Adherex Technologies Stock Down 2.8%

Shares of Adherex Technologies stock opened at $11.72 on Wednesday. Adherex Technologies has a 12-month low of $5.65 and a 12-month high of $13.25. The stock has a 50 day moving average price of $10.25 and a two-hundred day moving average price of $8.62. The stock has a market capitalization of $410.90 million, a P/E ratio of -90.15 and a beta of 1.09.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 6.93% and a negative net margin of 6.09%.The company had revenue of $17.87 million for the quarter, compared to the consensus estimate of $16.21 million. Sell-side analysts anticipate that Adherex Technologies will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. AQR Capital Management LLC bought a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,897 shares of the company’s stock, valued at approximately $66,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.