Brokerages Set Adherex Technologies Inc. (NASDAQ:FENC) PT at $15.40

Adherex Technologies Inc. (NASDAQ:FENC) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.40.

FENC has been the topic of a number of recent analyst reports. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Adherex Technologies in a research note on Thursday, April 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research note on Friday, July 17th. HC Wainwright lifted their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Zacks Research raised Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen upgraded shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th.

Adherex Technologies Stock Performance

Shares of FENC stock opened at $10.84 on Tuesday. Adherex Technologies has a fifty-two week low of $5.65 and a fifty-two week high of $11.31. The firm has a market capitalization of $379.73 million, a price-to-earnings ratio of -37.38 and a beta of 1.09. The stock’s 50-day simple moving average is $9.97 and its 200-day simple moving average is $8.45.

Adherex Technologies (NASDAQ:FENC) last announced 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 analyst estimates 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, equities analysts forecast that Adherex Technologies will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Adherex Technologies

An institutional investor recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC acquired a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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.