Adherex Technologies' (FENC) "Sell (D-)" Rating Reiterated at Weiss Ratings

Adherex Technologies (NASDAQ:FENC - Get Free Report)'s stock had its "sell (d-)" rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently commented on FENC. Wall Street Zen raised shares of Adherex Technologies from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Zacks Research downgraded shares of Adherex Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target on shares of Adherex Technologies in a report on Thursday, August 21st. Finally, Craig Hallum increased their price target on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.33.

Adherex Technologies Stock Down 2.7%

Shares of Adherex Technologies stock opened at $9.22 on Wednesday. The firm has a market cap of $257.33 million, a price-to-earnings ratio of -21.95 and a beta of 0.64. The business has a 50-day moving average price of $8.77 and a 200-day moving average price of $7.74. Adherex Technologies has a twelve month low of $3.96 and a twelve month high of $9.92.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The firm had revenue of $9.76 million during the quarter, compared to analysts' expectations of $9.52 million. On average, equities analysts expect that Adherex Technologies will post -0.11 EPS for the current fiscal year.

Insider Transactions at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,000 shares of the firm's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $9.78, for a total value of $97,800.00. Following the completion of the sale, the director owned 82,501 shares of the company's stock, valued at $806,859.78. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.76% of the stock is currently owned by insiders.

Institutional Trading of Adherex Technologies

Several institutional investors have recently added to or reduced their stakes in FENC. Bank of America Corp DE lifted its stake in Adherex Technologies by 32.1% in the fourth quarter. Bank of America Corp DE now owns 35,827 shares of the company's stock worth $226,000 after purchasing an additional 8,703 shares during the last quarter. AIGH Capital Management LLC bought a new stake in Adherex Technologies in the first quarter worth about $2,199,000. Nuveen LLC bought a new stake in shares of Adherex Technologies during the first quarter valued at approximately $158,000. AQR Capital Management LLC bought a new stake in shares of Adherex Technologies during the first quarter valued at approximately $66,000. Finally, Jane Street Group LLC bought a new stake in shares of Adherex Technologies during the first quarter valued at approximately $90,000. Institutional investors own 55.51% of the company's stock.

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.

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