Adherex Technologies Inc. (NASDAQ:FENC) Stock Has Consensus Target Price of $17.00

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.00.

Several equities research analysts recently commented on FENC shares. Wedbush boosted their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Adherex Technologies in a research note on Wednesday, September 9th. B. Riley Financial restated a “buy” rating and set a $18.00 price objective (up from $16.00) on shares of Adherex Technologies in a research report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a research note on Friday, July 17th.

Adherex Technologies Trading Down 1.4%

FENC stock opened at $10.80 on Wednesday. The firm has a 50 day moving average of $11.17 and a 200-day moving average of $9.38. The company has a market cap of $378.63 million, a price-to-earnings ratio of -83.08 and a beta of 1.10. Adherex Technologies has a 12-month low of $5.65 and a 12-month high of $13.25.

Adherex Technologies (NASDAQ:FENC) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%.The business had revenue of $17.87 million for the quarter, compared to analysts’ expectations of $16.21 million. Sell-side analysts forecast that Adherex Technologies will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Adherex Technologies

In other Adherex Technologies news, insider Pierre Sargis Sayad sold 12,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $12.18, for a total value of $146,160.00. Following the transaction, the insider directly owned 9,519 shares in the company, valued at approximately $115,941.42. This represents a 55.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Andrade sold 75,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the sale, the chief financial officer directly owned 217,675 shares in the company, valued at $2,564,211.50. This represents a 25.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.73% of the stock is owned by corporate insiders.

About Adherex Technologies

Adherex Technologies Inc was a biotechnology company that focused on developing therapies for cancer treatment and treatment-related complications. The company is now known as Fennec Pharmaceuticals Inc and trades on the Nasdaq under the symbol FENC.

Fennec’s principal product is PEDMARK (sodium thiosulfate), a formulation designed to reduce the risk of cisplatin-induced ototoxicity, or hearing loss, in children receiving cisplatin chemotherapy for localized, non-metastatic solid tumors.