Adherex Technologies Inc. (NASDAQ:FENC) Given Consensus Rating of "Buy" by Analysts

Key Points

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Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) has earned an average recommendation of "Buy" from the five research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.3333.

A number of research analysts have issued reports on the stock. HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of Adherex Technologies in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of Adherex Technologies from a "hold" rating to a "buy" rating in a research report on Sunday. Zacks Research downgraded shares of Adherex Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday. Finally, Craig Hallum boosted their price target on shares of Adherex Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday.

Adherex Technologies Price Performance

Shares of FENC stock opened at $8.20 on Tuesday. The firm has a market cap of $228.07 million, a P/E ratio of -19.52 and a beta of 0.40. Adherex Technologies has a 1-year low of $3.96 and a 1-year high of $9.42. The firm has a fifty day moving average of $8.42 and a two-hundred day moving average of $7.17.

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

Insiders Place Their Bets

In other news, Director Rosty Raykov sold 10,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $8.09, for a total transaction of $80,900.00. Following the sale, the director directly owned 55,878 shares of the company's stock, valued at $452,053.02. The trade was a 15.18% 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 link. Insiders have sold 31,119 shares of company stock worth $254,546 in the last ninety days. Company insiders own 11.76% of the company's stock.

Institutional Trading of Adherex Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Adherex Technologies by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 303,090 shares of the company's stock worth $1,916,000 after acquiring an additional 3,792 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Adherex Technologies by 31.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock worth $83,000 after acquiring an additional 3,155 shares in the last quarter. Barclays PLC increased its position in shares of Adherex Technologies by 13.9% in the fourth quarter. Barclays PLC now owns 35,672 shares of the company's stock worth $225,000 after acquiring an additional 4,353 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Adherex Technologies in the fourth quarter worth approximately $99,000. Finally, Solas Capital Management LLC increased its position in shares of Adherex Technologies by 17.0% in the fourth quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company's stock worth $14,226,000 after acquiring an additional 327,383 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company's stock.

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.

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