Adherex Technologies Inc. (NASDAQ:FENC) Receives $13.33 Average PT from Analysts

Key Points

• Adherex Technologies Inc. has received an average recommendation of "Buy" from five research firms, with a 12-month price target averaging $13.33.
• Despite a 3.0% decrease in stock price, the company's market cap stands at $244.49 million, with earnings per share reported at ($0.11), missing estimates.
• Insiders have sold a total of 21,119 shares worth $176,746 in the last quarter, with insiders owning 11.76% of the company's stock.

Shares of Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) have earned an average rating of "Buy" from the five brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.3333.

FENC has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Adherex Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Craig Hallum lifted their target price on shares of Adherex Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Adherex Technologies in a research note on Thursday, August 21st. Finally, Zacks Research downgraded Adherex Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th.

Adherex Technologies Stock Performance

FENC traded up $0.35 during midday trading on Friday, reaching $9.02. 21,697 shares of the company were exchanged, compared to its average volume of 74,872. The company's fifty day moving average price is $8.64 and its 200 day moving average price is $7.48. The company has a market cap of $251.78 million, a price-to-earnings ratio of -21.50 and a beta of 0.58. Adherex Technologies has a one year low of $3.96 and a one year high of $9.42.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its earnings results 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 company had revenue of $9.76 million during the quarter, compared to the consensus estimate of $9.52 million. As a group, sell-side analysts anticipate that Adherex Technologies will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Adherex Technologies

In related news, Director Rosty Raykov sold 10,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.09, for a total transaction of $80,900.00. Following the completion of the transaction, the director owned 55,878 shares in the company, valued at approximately $452,053.02. This represents a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 21,119 shares of company stock valued at $176,746. 11.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in shares of Adherex Technologies in the 1st quarter worth approximately $90,000. AQR Capital Management LLC purchased a new stake in Adherex Technologies in the first quarter worth $66,000. Nuveen LLC bought a new stake in shares of Adherex Technologies in the first quarter valued at $158,000. AIGH Capital Management LLC purchased a new position in shares of Adherex Technologies during the 1st quarter valued at $2,199,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Adherex Technologies during the 4th quarter valued at $97,000. 55.51% of the stock is 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.