Analysts Set Adherex Technologies Inc. (NASDAQ:FENC) Price Target at $14.80

Adherex Technologies Inc. (NASDAQ:FENC) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.40.

A number of research firms have commented on FENC. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday. 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. HC Wainwright boosted their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Adherex Technologies in a research report on Thursday, April 16th.

Insider Activity

In other news, Director Rosty Raykov sold 10,946 shares of Adherex Technologies stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $6.31, for a total transaction of $69,069.26. Following the transaction, the director directly owned 113,856 shares in the company, valued at approximately $718,431.36. This trade represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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. AQR Capital Management 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 Securities and Exchange Commission. The institutional investor acquired 10,897 shares of the company’s stock, valued at approximately $66,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Adherex Technologies Stock Performance

Shares of FENC stock opened at $9.97 on Thursday. Adherex Technologies has a 1 year low of $5.65 and a 1 year high of $10.45. The stock has a fifty day moving average of $7.26 and a two-hundred day moving average of $7.66. The firm has a market capitalization of $344.36 million, a PE ratio of -34.38 and a beta of 0.91.

Adherex Technologies (NASDAQ:FENC) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $15.11 million during the quarter, compared to analyst estimates of $13.90 million. Equities research analysts predict that Adherex Technologies will post 0.26 earnings per share for the current fiscal year.

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.