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

Adherex Technologies Inc. (NASDAQ:FENC – Get Free Report) has earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $15.40.

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

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Insider Buying and Selling

In other Adherex Technologies news, Director Rosty Raykov sold 10,781 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $6.47, for a total transaction of $69,753.07. Following the completion of the transaction, the director owned 121,451 shares in the company, valued at $785,787.97. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 Investors Weigh In On Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. Jane Street Group LLC acquired a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Adherex Technologies Price Performance

FENC stock opened at $9.00 on Monday. Adherex Technologies has a twelve month low of $5.65 and a twelve month high of $10.45. The stock’s 50 day moving average is $7.86 and its 200-day moving average is $7.76. The firm has a market capitalization of $314.01 million, a PE ratio of -31.03 and a beta of 1.07.

Adherex Technologies (NASDAQ:FENC – Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.11 million for the quarter, compared to analysts’ expectations of $13.90 million. On average, equities research analysts anticipate that Adherex Technologies will post 0.26 earnings per share for the current fiscal year.

About Adherex Technologies

(Get Free Report)

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.

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