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

Adherex Technologies Inc. (NASDAQ:FENC) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $14.80.

Several research analysts recently issued reports on FENC shares. Wall Street Zen raised Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research cut Adherex Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 25th. B. Riley Financial started coverage on Adherex Technologies in a research note on Thursday, February 12th. They issued a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a research note on Tuesday, April 21st. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Adherex Technologies in a research note on Thursday, April 16th.

Adherex Technologies Stock Performance

Shares of NASDAQ FENC opened at $9.75 on Thursday. The business’s 50 day moving average price is $7.04 and its 200-day moving average price is $7.59. Adherex Technologies has a fifty-two week low of $5.65 and a fifty-two week high of $10.27. The company has a market cap of $336.77 million, a price-to-earnings ratio of -33.62 and a beta of 0.91.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $15.11 million for the quarter, compared to the consensus estimate of $13.90 million. Sell-side analysts predict that Adherex Technologies will post 0.27 earnings per share for the current year.

Insider Transactions at Adherex Technologies

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 value of $69,069.26. Following the transaction, the director owned 113,856 shares of the company’s stock, valued at $718,431.36. This represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.73% of the stock is currently owned by company insiders.

Institutional Trading of Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC bought a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,897 shares of the company’s stock, valued at approximately $66,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.