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

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

FENC has been the subject of a number of recent research reports. HC Wainwright boosted their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Wedbush restated an “outperform” rating and issued a $13.00 price target on shares of Adherex Technologies in a report on Thursday, April 16th. Wall Street Zen raised shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a research report on Tuesday, April 21st.

Insider Transactions at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,781 shares of Adherex Technologies stock in a transaction 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 directly owned 121,451 shares of the company’s stock, valued at approximately $785,787.97. The trade was a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.73% of the company’s stock.

Institutional Trading of Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. Jane Street Group LLC bought a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned about 0.05% of Adherex Technologies at the end of the most recent reporting period. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Adherex Technologies Trading Up 0.6%

FENC opened at $10.31 on Friday. The firm has a market cap of $359.72 million, a price-to-earnings ratio of -35.55 and a beta of 1.07. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $11.31. The stock has a fifty day moving average price of $9.25 and a 200-day moving average price of $8.09.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Adherex Technologies had a negative return on equity of 43.87% and a negative net margin of 17.12%.The company had revenue of $15.11 million for the quarter, compared to the consensus estimate of $13.90 million. On average, equities research analysts forecast that Adherex Technologies will post 0.26 EPS for the current 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.