Adherex Technologies (NASDAQ:FENC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Adherex Technologies (NASDAQ:FENC) issued its quarterly earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02, FiscalAI reports. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%. The firm had revenue of $19.61 million during the quarter, compared to analyst estimates of $18.87 million.

Here are the key takeaways from Adherex Technologies’ conference call:

• Revenue and demand accelerated: Q3 net product sales rose 56% year over year to $19.4 million, the company’s best commercial quarter. Fennec HEARS enrollments increased 23% and completed infusions rose 58% sequentially, while record patient and infusion carryover and a strong October supported management’s confidence in Q4.
• Profitability and cash generation improved: Adjusted EBITDA reached a record $5.8 million, up from $2.0 million a year earlier, and the company generated nearly $7 million in cash from operations. Fennec reported $48.7 million in cash, no debt, and Q3 EPS of $0.12.
• Commercial investments are expanding access: Management said new sales territories are boosting field productivity, with uptake in community oncology and a formulary win at a large Midwestern academic center. Newly available GPO data is helping the team identify potential patients and add or expand accounts.
• Broader patient populations remain an opportunity, but evidence is still developing: Investigator-sponsored studies are evaluating PEDMARK in adult and metastatic testicular cancer patients, with interim City of Hope data expected in January. Management said any potential change to adult NCCN guidance depends on the forthcoming evidence and gave no timing for a Japan licensing deal.

Adherex Technologies Stock Performance

NASDAQ FENC traded up $0.62 on Friday, reaching $11.52. 198,941 shares of the stock traded hands, compared to its average volume of 199,714. The company has a fifty day moving average price of $10.66 and a 200-day moving average price of $9.34. The company has a market cap of $405.84 million, a price-to-earnings ratio of -87.77 and a beta of 1.29. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $13.25.

Insider Buying and Selling at Adherex Technologies

In other news, CFO Robert Andrade sold 75,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the transaction, the chief financial officer owned 217,675 shares in the company, valued at approximately $2,564,211.50. This trade represents a 25.63% decrease in their ownership of the stock. The sale 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. Also, insider Pierre Sargis Sayad sold 12,000 shares of Adherex Technologies 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 completion of the sale, the insider owned 9,519 shares of the company’s stock, valued at $115,941.42. The trade was a 55.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. B. Riley Financial restated a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Adherex Technologies in a report on Wednesday, September 9th. Finally, Wedbush boosted their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Adherex Technologies Company Profile

Adherex Technologies was a biotechnology company focused on developing treatments for cancer. In 2014, the company changed its name to Fennec Pharmaceuticals Inc.; Fennec later adopted the Nasdaq ticker FENC. Fennec is a commercial-stage biopharmaceutical company focused on therapies that address complications of cancer treatment. Its principal product is PEDMARK, a sodium thiosulfate injection approved in the United States to reduce the risk of cisplatin-related hearing damage in certain pediatric patients with cancer.