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

Key Points

• Consensus "Moderate Buy": Seven analysts covering Adherex Technologies (NASDAQ: FENC) give a consensus rating of Moderate Buy (2 sell, 4 buy, 1 strong buy) with an average 1-year target of $14.80.
• Earnings miss and weak profitability: The company reported Q results on March 28 with EPS of ($0.17) vs. $0.04 expected and revenue $13.78M vs. $14.75M expected, showing a negative net margin of 22.62% and negative ROE of 183.18%; analysts project $0.22 EPS for the year.
• Insider and institutional activity: Director Rosty Raykov sold 10,946 shares under a pre-arranged Rule 10b5-1 plan (insiders own 11.76%), while institutional ownership stands at 55.51% and Jane Street opened a small new position (~14,718 shares, ~$90k).

Shares of Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.80.

FENC has been the subject of a number of research reports. Zacks Research cut shares of Adherex Technologies from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 25th. Piper Sandler initiated coverage on shares of Adherex Technologies in a report on Friday, January 9th. They set an "overweight" rating and a $18.00 target price for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adherex Technologies in a report on Tuesday. B. Riley Financial initiated coverage on shares of Adherex Technologies in a report on Thursday, February 12th. They set a "buy" rating and a $16.00 target price for the company. Finally, Wall Street Zen cut shares of Adherex Technologies from a "buy" rating to a "hold" rating in a report on Saturday, April 4th.

Adherex Technologies Trading Up 2.7%

Shares of FENC stock opened at $6.84 on Friday. Adherex Technologies has a 12 month low of $5.54 and a 12 month high of $9.92. The stock has a market cap of $235.81 million, a P/E ratio of -20.12 and a beta of 0.93. The company has a 50 day simple moving average of $7.28 and a two-hundred day simple moving average of $7.71.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its earnings results on Saturday, March 28th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.21). Adherex Technologies had a negative net margin of 22.62% and a negative return on equity of 183.18%. The business had revenue of $13.78 million for the quarter, compared to analysts' expectations of $14.75 million. As a group, equities analysts forecast that Adherex Technologies will post 0.22 earnings per share for the current year.

Insider Activity

In other news, Director Rosty Raykov sold 10,946 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $6.31, for a total value of $69,069.26. Following the completion of the sale, the director directly owned 113,856 shares of the company's stock, valued at $718,431.36. This represents a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.76% of the stock is currently owned by company insiders.

Institutional Trading of Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC bought a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,718 shares of the company's stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies as of its most recent filing with the Securities & Exchange Commission. 55.51% of the stock is currently owned by institutional investors.

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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