Adherex Technologies Inc. (NASDAQ:FENC – Get Free Report) CFO Robert Andrade sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the transaction, the chief financial officer directly owned 217,675 shares of the company’s stock, valued at $2,564,211.50. The trade was a 25.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Adherex Technologies Stock Up 4.2%
Shares of NASDAQ FENC opened at $12.27 on Friday. The business’s 50 day moving average is $10.81 and its two-hundred day moving average is $8.91. Adherex Technologies Inc. has a 52-week low of $5.65 and a 52-week high of $13.25. The firm has a market cap of $430.16 million, a price-to-earnings ratio of -94.38 and a beta of 1.09.
Adherex Technologies (NASDAQ:FENC – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%.The business had revenue of $17.87 million during the quarter, compared to analysts’ expectations of $16.21 million. Analysts anticipate that Adherex Technologies Inc. will post 0.29 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Wedbush upped their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Zacks Research raised shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. HC Wainwright boosted their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Wall Street Zen raised Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $18.00 price objective (up from $16.00) on shares of Adherex Technologies in a research note on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Adherex Technologies has a consensus rating of “Moderate Buy” and an average target price of $17.00.
Get Our Latest Stock Report on Adherex Technologies
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.
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