Adherex Technologies (NASDAQ:FENC) Given Buy Rating at B. Riley Financial

Adherex Technologies (NASDAQ:FENC)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley Financial in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $18.00 price target on the stock, up from their previous price target of $16.00. B. Riley Financial’s price objective would indicate a potential upside of 50.13% from the company’s previous close.

Several other brokerages also recently weighed in on FENC. HC Wainwright raised their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen raised Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a report on Friday, July 17th. Finally, Wedbush boosted their price target on Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adherex Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $16.40.

Adherex Technologies Price Performance

FENC stock traded down $0.79 during trading on Wednesday, hitting $11.99. 150,160 shares of the stock traded hands, compared to its average volume of 206,480. Adherex Technologies has a 1 year low of $5.65 and a 1 year high of $13.25. The firm’s 50 day moving average is $10.08 and its two-hundred day moving average is $8.54. The stock has a market cap of $420.37 million, a price-to-earnings ratio of -41.34 and a beta of 1.09.

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, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $17.87 million during the quarter, compared to analysts’ expectations of $16.21 million. Adherex Technologies had a negative net margin of 17.12% and a negative return on equity of 43.87%. As a group, analysts anticipate that Adherex Technologies will post 0.26 EPS for the current fiscal 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 stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,897 shares of the company’s stock, valued at approximately $66,000. Institutional investors and hedge funds 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.