Adherex Technologies Inc. (FENC) - What Are Analysts Saying About This Stock?

Key Points

• Analysts are moderately bullish: Four of six covering brokerages rate FENC a buy, one rates it hold and one sell; the average 12-month price target is $17.
• Latest quarterly results beat expectations: Fennec reported EPS of $0.05 versus the $0.02 consensus and revenue of $17.87 million versus expectations of $16.21 million.
• Two insiders sold shares: CFO Robert Andrade sold 75,000 shares under a pre-arranged trading plan, while insider Pierre Sargis Sayad sold 12,000 shares.

Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) has received an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $17.00.

A number of research firms have weighed in on FENC. B. Riley Financial reissued a "buy" rating and issued a $18.00 target price (up from $16.00) on shares of Adherex Technologies in a research note on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Adherex Technologies in a research report on Thursday, October 15th. Wedbush upped their price target on Adherex Technologies from $13.00 to $16.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price target on shares of Adherex Technologies in a report on Wednesday, September 9th.

Insiders Place Their Bets

In other Adherex Technologies news, CFO Robert Andrade sold 75,000 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $11.78, for a total value of $883,500.00. Following the completion of the sale, the chief financial officer directly owned 217,675 shares in the company, valued at $2,564,211.50. This represents a 25.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pierre Sargis Sayad sold 12,000 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $12.18, for a total value of $146,160.00. Following the completion of the sale, the insider directly owned 9,519 shares of the company's stock, valued at $115,941.42. This trade represents a 55.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.73% of the company's stock.

Adherex Technologies Trading Up 0.6%

NASDAQ:FENC opened at $10.64 on Thursday. The company has a market cap of $374.74 million, a P/E ratio of -81.85 and a beta of 1.29. Adherex Technologies has a twelve month low of $5.65 and a twelve month high of $13.25. The company's 50-day moving average price is $10.69 and its 200-day moving average price is $9.33.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $17.87 million during the quarter, compared to analysts' expectations of $16.21 million. Adherex Technologies had a negative net margin of 6.09% and a negative return on equity of 5.71%. On average, analysts expect that Adherex Technologies will post 0.28 earnings per share for the current year.

Adherex Technologies Company Profile

Adherex Technologies was a biotechnology company focused on developing treatments for cancer. In 2014, the company changed its name to Fennec Pharmaceuticals Inc.; Fennec later adopted the Nasdaq ticker FENC. Fennec is a commercial-stage biopharmaceutical company focused on therapies that address complications of cancer treatment. Its principal product is PEDMARK, a sodium thiosulfate injection approved in the United States to reduce the risk of cisplatin-related hearing damage in certain pediatric patients with cancer.

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