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

Key Points

• Analysts hold a “Moderate Buy” consensus on FENC, with four buy ratings, one hold and one sell. The average 12-month price target is $17.00 versus a recent share price of $11.01.
• Adherex Technologies exceeded quarterly expectations, reporting $0.05 EPS versus the $0.02 consensus and revenue of $17.87 million versus $16.21 million expected.
• Insiders recently sold shares, including the CFO’s $883,500 transaction and another insider’s $146,160 sale; insiders retain a 10.73% ownership stake.

Shares of Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.00.

Several equities research analysts have recently weighed in on FENC shares. HC Wainwright reiterated a "buy" rating and set a $16.00 price objective on shares of Adherex Technologies in a research report on Wednesday, September 9th. B. Riley Financial reaffirmed a "buy" rating and set a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a research report on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adherex Technologies in a report on Friday, July 17th. Finally, Wedbush boosted their price objective on Adherex Technologies from $13.00 to $16.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th.

Adherex Technologies Price Performance

Shares of FENC stock opened at $11.01 on Wednesday. The business's 50 day simple moving average is $11.13 and its 200 day simple moving average is $9.28. Adherex Technologies has a one year low of $5.65 and a one year high of $13.25. The stock has a market capitalization of $386.01 million, a PE ratio of -84.69 and a beta of 1.10.

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

Insider Buying and Selling

In other Adherex Technologies news, CFO Robert Andrade sold 75,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 217,675 shares of the company's stock, valued at approximately $2,564,211.50. The trade was a 25.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pierre Sargis Sayad sold 12,000 shares of the business's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $12.18, for a total value of $146,160.00. Following the completion of the transaction, the insider directly owned 9,519 shares in the company, valued at approximately $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 Company Profile

Adherex Technologies Inc was a biotechnology company that focused on developing therapies for cancer treatment and treatment-related complications. The company is now known as Fennec Pharmaceuticals Inc and trades on the Nasdaq under the symbol FENC.

Fennec's principal product is PEDMARK (sodium thiosulfate), a formulation designed to reduce the risk of cisplatin-induced ototoxicity, or hearing loss, in children receiving cisplatin chemotherapy for localized, non-metastatic solid tumors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.