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

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $17.00.

FENC has been the topic of several analyst reports. HC Wainwright increased their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Wedbush lifted their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Friday, July 17th. B. Riley Financial reissued a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a research note on Wednesday, August 12th. Finally, Zacks Research raised Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th.

Insider Activity

In other news, CFO Robert Andrade sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $11.78, for a total value of $883,500.00. Following the completion of the sale, the chief financial officer directly owned 217,675 shares of the company’s stock, valued at $2,564,211.50. This represents a 25.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pierre Sargis Sayad sold 12,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $12.18, for a total transaction of $146,160.00. Following the completion of the sale, the insider owned 9,519 shares in the company, valued at $115,941.42. This represents a 55.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adherex Technologies

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 Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,897 shares of the company’s stock, valued at approximately $66,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Adherex Technologies Stock Up 2.3%

Shares of FENC stock opened at $12.31 on Friday. The firm has a market cap of $431.59 million, a price-to-earnings ratio of -94.69 and a beta of 1.10. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $13.25. The stock has a 50-day moving average price of $10.94 and a 200 day moving average price of $9.00.

Adherex Technologies (NASDAQ:FENC) last released its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Adherex Technologies had a negative net margin of 6.09% and a negative return on equity of 5.71%. The company had revenue of $17.87 million for the quarter, compared to the consensus estimate of $16.21 million. Sell-side analysts predict that Adherex Technologies will post 0.29 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.