Adherex Technologies (NASDAQ:FENC) Given New $16.00 Price Target at HC Wainwright

Adherex Technologies (NASDAQ:FENC) had its price objective lifted by investment analysts at HC Wainwright from $13.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 60.48% from the stock’s previous close.

Several other analysts have also commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a report on Tuesday, April 21st. B. Riley Financial started coverage on Adherex Technologies in a research note on Thursday, February 12th. They issued a “buy” rating and a $16.00 target price for the company. Wall Street Zen upgraded Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, April 16th. Finally, Zacks Research lowered Adherex Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.40.

Adherex Technologies Trading Up 2.3%

Shares of FENC opened at $9.97 on Friday. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $10.27. The stock has a fifty day moving average price of $7.08 and a 200-day moving average price of $7.61. The firm has a market cap of $344.36 million, a PE ratio of -34.38 and a beta of 0.91.

Adherex Technologies (NASDAQ:FENC) last issued 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 return on equity of 43.87% and a negative net margin of 17.12%.The firm had revenue of $15.11 million during the quarter, compared to analyst estimates of $13.90 million. As a group, research analysts forecast that Adherex Technologies will post 0.27 EPS for the current year.

Insider Buying and Selling at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,946 shares of Adherex Technologies stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $6.31, for a total transaction of $69,069.26. Following the completion of the transaction, the director owned 113,856 shares in the company, valued at approximately $718,431.36. This trade represents a 8.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.73% of the company’s stock.

Hedge Funds Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned about 0.05% of Adherex Technologies as of its most recent filing with the SEC. 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.