Adherex Technologies Inc. (NASDAQ:FENC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $15.25.

Several brokerages have recently issued reports on FENC. Piper Sandler assumed coverage on shares of Adherex Technologies in a report on Friday, January 9th. They issued an “overweight” rating and a $18.00 price target for the company. B. Riley Financial began coverage on Adherex Technologies in a research note on Thursday, February 12th. They set a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a report on Thursday, January 22nd. Zacks Research cut Adherex Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. Finally, Wall Street Zen downgraded Adherex Technologies from a “buy” rating to a “hold” rating in a report on Saturday.

Insider Activity

In related news, Director Rosty Raykov sold 10,946 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 113,856 shares of the company’s stock, valued at approximately $718,431.36. This represents a 8.77% decrease in their position. The transaction 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. Corporate insiders own 11.76% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC purchased a new stake in Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,897 shares of the company’s stock, valued at approximately $66,000. 55.51% of the stock is owned by institutional investors.

Adherex Technologies Price Performance

Adherex Technologies stock opened at $6.42 on Wednesday. The firm has a market capitalization of $221.30 million, a price-to-earnings ratio of -18.88 and a beta of 0.93. The company’s 50 day simple moving average is $7.69 and its 200 day simple moving average is $7.99. Adherex Technologies has a fifty-two week low of $4.68 and a fifty-two week high of $9.92.

Adherex Technologies (NASDAQ:FENC) last issued its earnings results on Friday, March 27th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21). The firm had revenue of $13.78 million during the quarter, compared to the consensus estimate of $14.75 million. Adherex Technologies had a negative net margin of 22.62% and a negative return on equity of 183.18%. As a group, analysts predict that Adherex Technologies will post -0.11 EPS for the current fiscal year.

About Adherex Technologies

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.