Adherex Technologies (NASDAQ:FENC) Trading 0.2% Higher – Here’s What Happened

Adherex Technologies Inc. (NASDAQ:FENC)’s stock price rose 0.2% during trading on Monday . The stock traded as high as $9.86 and last traded at $9.59. Approximately 117,840 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 141,794 shares. The stock had previously closed at $9.57.

Analysts Set New Price Targets

FENC has been the topic of several analyst reports. HC Wainwright lifted their target price on Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wedbush restated an “outperform” rating and issued a $13.00 price target on shares of Adherex Technologies in a research report on Thursday, April 16th. Zacks Research raised 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 note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Adherex Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $15.40.

Adherex Technologies Stock Performance

The company has a market cap of $368.56 million, a P/E ratio of -36.28 and a beta of 1.09. The firm’s fifty day moving average is $9.94 and its two-hundred day moving average is $8.41.

Adherex Technologies (NASDAQ:FENC) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Adherex Technologies had a negative return on equity of 43.87% and a negative net margin of 17.12%.The business had revenue of $15.11 million for the quarter, compared to analysts’ expectations of $13.90 million. On average, equities research analysts expect that Adherex Technologies Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies at the end of the most recent reporting period. 55.51% of the stock is owned by institutional investors and hedge funds.

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.