Adherex Technologies Inc. (NASDAQ:FENC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.40.

Several equities analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Adherex Technologies in a report on Thursday, April 16th. Wall Street Zen upgraded Adherex Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 16th. HC Wainwright boosted their target price on Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a report on Tuesday, April 21st. Finally, Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th.

Insider Buying and Selling at Adherex Technologies

In other news, Director Rosty Raykov sold 10,781 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.47, for a total value of $69,753.07. Following the transaction, the director owned 121,451 shares in the company, valued at approximately $785,787.97. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.73% of the company’s stock.

Institutional Investors Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new position in Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to 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. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Adherex Technologies Stock Performance

Shares of Adherex Technologies stock opened at $9.06 on Monday. The firm has a market capitalization of $316.10 million, a PE ratio of -31.24 and a beta of 1.07. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $10.45. The business’s 50-day moving average price is $8.13 and its 200-day moving average price is $7.80.

Adherex Technologies (NASDAQ:FENC) last issued its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $15.11 million during the quarter, compared to analyst estimates 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 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.