Adherex Technologies Inc. (NASDAQ:FENC – Get Free Report) insider Pierre Sargis Sayad sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $12.18, for a total transaction of $146,160.00. Following the sale, the insider directly owned 9,519 shares in the company, valued at approximately $115,941.42. The trade was a 55.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Adherex Technologies Stock Performance
Shares of NASDAQ:FENC traded up $0.08 during trading on Monday, hitting $12.35. The company’s stock had a trading volume of 508,583 shares, compared to its average volume of 240,112. Adherex Technologies Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $13.25. The business has a 50 day moving average price of $10.87 and a two-hundred day moving average price of $8.95. The company has a market capitalization of $432.99 million, a PE ratio of -95.00 and a beta of 1.09.
Adherex Technologies (NASDAQ:FENC – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.05 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 5.71% and a negative net margin of 6.09%.The business had revenue of $17.87 million for the quarter, compared to analysts’ expectations of $16.21 million. As a group, equities analysts expect that Adherex Technologies Inc. will post 0.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
A number of brokerages have recently commented on FENC. HC Wainwright boosted their price objective on Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a report on Friday, July 17th. Wedbush lifted their price target 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. B. Riley Financial reiterated a “buy” rating and set a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently 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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