Adherex Technologies (NASDAQ:FENC) Upgraded at Zacks Research

Adherex Technologies (NASDAQ:FENC) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on FENC. B. Riley Financial assumed coverage on shares of Adherex Technologies in a report on Thursday, February 12th. They set a “buy” rating and a $16.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Adherex Technologies in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a report on Tuesday, April 21st. Finally, HC Wainwright upped their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.40.

Adherex Technologies Price Performance

Shares of FENC opened at $9.89 on Monday. Adherex Technologies has a one year low of $5.65 and a one year high of $10.45. The company has a market cap of $341.61 million, a P/E ratio of -34.10 and a beta of 0.91. The firm has a 50 day simple moving average of $7.21 and a two-hundred day simple moving average of $7.64.

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. Adherex Technologies had a negative net margin of 17.12% and a negative return on equity of 43.87%. The business had revenue of $15.11 million during the quarter, compared to the consensus estimate of $13.90 million. On average, analysts expect that Adherex Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Activity at Adherex Technologies

In related news, Director Rosty Raykov sold 10,946 shares of Adherex Technologies stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $6.31, for a total value of $69,069.26. Following the transaction, the director directly owned 113,856 shares of the company’s stock, valued at $718,431.36. The trade was a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.73% of the stock is currently owned by corporate insiders.

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 first quarter, according to 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. 55.51% of the stock is currently owned by institutional investors.

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.