Adherex Technologies Inc. (NASDAQ:FENC) Receives $14.80 Consensus PT from Brokerages

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.25.

A number of research analysts have issued reports on FENC shares. Wall Street Zen raised shares of Adherex Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Piper Sandler assumed coverage on shares of Adherex Technologies in a research report on Friday, January 9th. They issued an “overweight” rating and a $18.00 target price for the company. B. Riley Financial began coverage on shares of Adherex Technologies in a research note on Thursday, February 12th. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th.

Insider Buying and Selling

In other news, Director Rosty Raykov sold 10,349 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $7.76, for a total value of $80,308.24. Following the completion of the transaction, the director owned 98,477 shares in the company, valued at $764,181.52. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Southpoint Capital Advisors Lp sold 1,000,000 shares of Adherex Technologies stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $7.50, for a total value of $7,500,000.00. Following the sale, the insider owned 2,744,741 shares in the company, valued at $20,585,557.50. This represents a 26.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in shares of 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 (SEC). The firm acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies at the end of the most recent quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Adherex Technologies Stock Performance

Shares of FENC stock opened at $7.97 on Friday. Adherex Technologies has a fifty-two week low of $4.68 and a fifty-two week high of $9.92. The firm has a market cap of $272.73 million, a P/E ratio of -34.65 and a beta of 0.75. The business’s 50 day moving average price is $7.95 and its 200-day moving average price is $8.24.

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.