Adherex Technologies’ (FENC) Buy Rating Reiterated at B. Riley Financial

B. Riley Financial reiterated their buy rating on shares of Adherex Technologies (NASDAQ:FENC) in a report released on Wednesday morning,Benzinga reports. B. Riley Financial currently has a $18.00 price target on the stock, up from their previous price target of $16.00.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a report on Friday, July 17th. HC Wainwright lifted their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Wall Street Zen raised Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Wedbush raised their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Zacks Research raised shares of 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Adherex Technologies Price Performance

Adherex Technologies stock opened at $11.72 on Wednesday. The company’s 50-day moving average is $10.25 and its 200-day moving average is $8.62. The firm has a market capitalization of $410.90 million, a PE ratio of -90.15 and a beta of 1.09. Adherex Technologies has a fifty-two week low of $5.65 and a fifty-two week high of $13.25.

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

Hedge Funds Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. AQR Capital Management LLC acquired a new position in Adherex Technologies Inc. (NASDAQ:FENC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,897 shares of the company’s stock, valued at approximately $66,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Adherex Technologies Company Profile

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.