Adherex Technologies (NASDAQ:FENC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.
A number of other analysts have also weighed in on FENC. Zacks Research lowered shares of Adherex Technologies from a "hold" rating to a "strong sell" rating in a report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Adherex Technologies in a report on Wednesday, October 8th. HC Wainwright reissued 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 upped their target price on shares of Adherex Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.33.
Get Our Latest Research Report on FENC
Adherex Technologies Trading Down 4.6%
NASDAQ FENC opened at $8.24 on Friday. The firm has a market cap of $229.98 million, a price-to-earnings ratio of -19.62 and a beta of 0.64. The company has a 50 day moving average of $8.84 and a 200-day moving average of $7.85. Adherex Technologies has a 1-year low of $3.96 and a 1-year high of $9.92.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $9.76 million for the quarter, compared to analyst estimates of $9.52 million. On average, analysts forecast that Adherex Technologies will post -0.11 earnings per share for the current year.
Insider Buying and Selling at Adherex Technologies
In other news, major shareholder Southpoint Capital Advisors Lp sold 26,900 shares of the firm's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $9.59, for a total value of $257,971.00. Following the transaction, the insider directly owned 4,050,314 shares in the company, valued at $38,842,511.26. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rosty Raykov sold 10,000 shares of the firm's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,889 shares of company stock worth $831,426 over the last 90 days. 11.76% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC bought a new position in Adherex Technologies during the first quarter worth about $2,199,000. Nuveen LLC bought a new position in Adherex Technologies during the first quarter worth about $158,000. Jane Street Group LLC bought a new position in Adherex Technologies during the first quarter worth about $90,000. Finally, AQR Capital Management LLC bought a new position in Adherex Technologies during the first quarter worth about $66,000. 55.51% of the stock is currently owned by institutional investors.
About Adherex Technologies
(
Get Free Report)
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.
Further Reading
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