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

Adherex Technologies Inc. (NASDAQ:FENC) has been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers 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 analyst reports. HC Wainwright increased their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Adherex Technologies in a research report on Thursday, April 16th. Wall Street Zen upgraded shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a report 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.

Adherex Technologies Stock Performance

Shares of NASDAQ:FENC opened at $9.00 on Monday. Adherex Technologies has a 52 week low of $5.65 and a 52 week high of $10.45. The firm has a market cap of $314.01 million, a PE ratio of -31.03 and a beta of 1.07. The firm’s fifty day moving average is $7.86 and its 200-day moving average is $7.76.

Adherex Technologies (NASDAQ:FENC) last announced its earnings results on Thursday, May 14th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $15.11 million for the quarter, compared to the consensus estimate of $13.90 million. Adherex Technologies had a negative return on equity of 43.87% and a negative net margin of 17.12%. Sell-side analysts forecast that Adherex Technologies will post 0.26 EPS for the current year.

Insider Transactions at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,946 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $6.31, for a total value of $69,069.26. Following the completion of the sale, the director directly owned 113,856 shares in the company, valued at approximately $718,431.36. This trade represents a 8.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. AQR Capital Management LLC acquired a new stake in Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 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 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.