Adherex Technologies (NASDAQ:FENC) Stock Price Up 0.2% - Here's Why

Key Points

• FENC shares rose 0.2% to $9.59 in Monday trading, with volume falling 17% below the average session level.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $15.40, although Weiss Ratings maintained a sell rating.
• Adherex exceeded quarterly expectations, reporting $0.01 in EPS versus a projected loss of $0.02 and revenue of $15.11 million versus the $13.90 million consensus estimate.

Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) shares rose 0.2% during trading on Monday . The company traded as high as $9.86 and last traded at $9.59. 117,840 shares were traded during trading, a decline of 17% from the average session volume of 141,794 shares. The stock had previously closed at $9.57.

Analyst Ratings Changes

Several research firms have weighed in on FENC. Wall Street Zen upgraded shares of Adherex Technologies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Wedbush reissued an "outperform" rating and set a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, April 16th. Zacks Research upgraded shares of Adherex Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, May 25th. 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 research note on Friday, May 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adherex Technologies in a report on Friday, July 17th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.40.

Adherex Technologies Stock Performance

The firm has a market cap of $335.94 million, a P/E ratio of -33.07 and a beta of 1.09. The company has a 50 day moving average of $9.93 and a 200 day moving average of $8.39.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The firm had revenue of $15.11 million for the quarter, compared to the consensus estimate of $13.90 million. Adherex Technologies had a negative return on equity of 43.87% and a negative net margin of 17.12%. As a group, analysts expect that Adherex Technologies Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC acquired a new position in Adherex Technologies Inc. (NASDAQ:FENC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.