Adherex Technologies (NASDAQ:FENC) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Adherex Technologies (NASDAQ:FENC - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Craig Hallum raised their price objective on shares of Adherex Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Adherex Technologies in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adherex Technologies presently has a consensus rating of "Buy" and a consensus target price of $13.00.

Adherex Technologies Trading Down 1.5%

Shares of FENC traded down $0.13 during midday trading on Friday, reaching $8.66. 26,561 shares of the company were exchanged, compared to its average volume of 92,391. Adherex Technologies has a 1-year low of $3.96 and a 1-year high of $9.30. The company has a market cap of $238.93 million, a price-to-earnings ratio of -16.91 and a beta of 0.39. The stock has a 50-day moving average price of $7.83 and a 200-day moving average price of $6.73.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.08. The business had revenue of $8.51 million during the quarter, compared to analyst estimates of $8.18 million. During the same period last year, the company earned $0.41 EPS. Equities research analysts anticipate that Adherex Technologies will post -0.11 earnings per share for the current year.

Insider Activity at Adherex Technologies

In related news, Director Rosty Raykov sold 10,000 shares of Adherex Technologies stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $8.61, for a total transaction of $86,100.00. Following the transaction, the director directly owned 60,670 shares in the company, valued at approximately $522,368.70. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey S. Hackman bought 13,965 shares of the company's stock in a transaction on Monday, May 19th. The shares were acquired at an average price of $6.99 per share, with a total value of $97,615.35. Following the transaction, the chief executive officer directly owned 15,000 shares of the company's stock, valued at approximately $104,850. This trade represents a 1,349.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 31,119 shares of company stock valued at $236,746. Company insiders own 10.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in Adherex Technologies during the first quarter worth approximately $66,000. Intech Investment Management LLC acquired a new stake in Adherex Technologies during the 4th quarter worth $69,000. Wells Fargo & Company MN grew its holdings in shares of Adherex Technologies by 31.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock valued at $83,000 after acquiring an additional 3,155 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Adherex Technologies during the first quarter worth approximately $90,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Adherex Technologies in the fourth quarter valued at approximately $97,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.