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

Adherex Technologies Inc. (NASDAQ:FENC) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $14.50.

A number of research firms recently commented on FENC. Zacks Research raised Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a report on Wednesday, October 8th. Piper Sandler assumed coverage on shares of Adherex Technologies in a research report on Friday, January 9th. They set an “overweight” rating and a $18.00 target price for the company. Finally, Wall Street Zen downgraded Adherex Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th.

Insider Activity at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $7.54, for a total value of $75,400.00. Following the completion of the transaction, the director directly owned 77,526 shares of the company’s stock, valued at approximately $584,546.04. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Southpoint Capital Advisors Lp sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $7.50, for a total value of $7,500,000.00. Following the completion of the sale, the insider owned 2,744,741 shares in the company, valued at approximately $20,585,557.50. This represents a 26.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,285,359 shares of company stock valued at $9,862,427. 11.76% of the stock is 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 acquired a new stake in Adherex Technologies Inc. (NASDAQ:FENC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 and hedge funds.

Adherex Technologies Trading Up 1.3%

NASDAQ:FENC opened at $7.80 on Friday. The company has a market cap of $266.45 million, a PE ratio of -33.91 and a beta of 0.78. Adherex Technologies has a twelve month low of $4.68 and a twelve month high of $9.92. The company’s 50 day moving average is $7.73 and its two-hundred day moving average is $8.33.

Adherex Technologies (NASDAQ:FENC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The company had revenue of $12.46 million during the quarter, compared to analysts’ expectations of $13.43 million. As a group, analysts expect that Adherex Technologies will post -0.11 EPS 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.