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

Key Points

• Analysts have given Adherex Technologies Inc. a consensus recommendation of "Moderate Buy", backed by six brokerages, with various ratings ranging from sell to strong buy.
• The average twelve-month price target for the stock among analysts is $13.33, indicating potential upside for investors.
• Insider trading report reveals that Director Rosty Raykov sold 10,000 shares at an average price of $9.78, reducing his ownership in the company.

Shares of Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $13.3333.

A number of equities research analysts have issued reports on the company. Craig Hallum boosted their price target on Adherex Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, August 15th. HC Wainwright reiterated a "buy" rating and set a $13.00 target price on shares of Adherex Technologies in a report on Thursday, August 21st. Zacks Research downgraded shares of Adherex Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Adherex Technologies from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adherex Technologies in a research note on Saturday, September 27th.

Insider Buying and Selling at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,000 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $9.78, for a total value of $97,800.00. Following the completion of the transaction, the director owned 82,501 shares in the company, valued at $806,859.78. This represents a 10.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FENC. AIGH Capital Management LLC purchased a new position in shares of Adherex Technologies in the first quarter valued at $2,199,000. Nuveen LLC purchased a new position in Adherex Technologies in the 1st quarter valued at about $158,000. Jane Street Group LLC purchased a new position in Adherex Technologies in the first quarter valued at about $90,000. AQR Capital Management LLC acquired a new stake in Adherex Technologies during the 1st quarter valued at approximately $66,000. Finally, Bank of America Corp DE increased its holdings in Adherex Technologies by 32.1% during the 4th 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. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Adherex Technologies Stock Performance

Adherex Technologies stock opened at $9.48 on Wednesday. Adherex Technologies has a 1 year low of $3.96 and a 1 year high of $9.92. The firm has a 50 day moving average price of $8.76 and a 200 day moving average price of $7.73. The company has a market cap of $264.59 million, a price-to-earnings ratio of -22.57 and a beta of 0.64.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $9.76 million for the quarter, compared to the consensus estimate of $9.52 million. Sell-side analysts predict that Adherex Technologies will post -0.11 EPS for the current year.

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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