Adherex Technologies Inc. (NASDAQ:FENC) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy” among seven analysts, with four buy ratings, one strong buy, one hold, and one sell. The average 12-month price target is $15.40, above the stock’s reported $9.59 price.
• FENC shares have traded between $5.65 and $11.31 over the past year, with a market capitalization of approximately $335.9 million. The 200-day moving average is $8.39.
• The company exceeded quarterly expectations, reporting $0.01 in EPS versus a consensus loss of $0.02 and revenue of $15.11 million versus estimates of $13.90 million. AQR Capital Management also recently acquired a new stake, while institutional investors collectively own 55.51% of shares.

Shares of Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.40.

A number of brokerages have weighed in on FENC. Weiss Ratings restated a "sell (d-)" rating on shares of Adherex Technologies in a report on Friday, July 17th. Zacks Research raised shares of Adherex Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. HC Wainwright increased their target price 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. Wedbush reissued an "outperform" rating and issued a $13.00 price target on shares of Adherex Technologies in a research note on Thursday, April 16th. 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.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC purchased a new stake in Adherex Technologies Inc. (NASDAQ:FENC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 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 Price Performance

Shares of Adherex Technologies stock opened at $9.59 on Tuesday. The business has a 50 day simple moving average of $9.93 and a two-hundred day simple moving average of $8.39. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $11.31. The stock has a market capitalization of $335.94 million, a P/E ratio of -33.07 and a beta of 1.09.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last released its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $13.90 million. As a group, research analysts anticipate that Adherex Technologies will post 0.26 EPS for the current fiscal year.

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.

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