Adherex Technologies Inc. (NASDAQ:FENC) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give FENC a “Moderate Buy” consensus: Four of six analysts rate the stock a buy, while one rates it a hold and one a sell. The average 12-month price target is $17, above the recent $12.27 share price.
• Recent results exceeded expectations: The company reported quarterly EPS of $0.05 versus the $0.02 consensus estimate and revenue of $17.87 million, ahead of the $16.21 million forecast.
• Shares have risen but insider selling occurred: FENC was trading up 4.2%, with its 52-week range between $5.65 and $13.25. CFO Robert Andrade sold 75,000 shares for about $883,500 under a pre-arranged Rule 10b5-1 plan.

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

A number of analysts recently issued reports on FENC shares. HC Wainwright lifted their target price on Adherex Technologies from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Wedbush increased 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. Weiss Ratings restated a "sell (d-)" rating on shares of Adherex Technologies in a research note on Friday, July 17th. Wall Street Zen raised Adherex Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Finally, 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.

Adherex Technologies Trading Up 4.2%

Shares of FENC stock opened at $12.27 on Friday. Adherex Technologies has a 1 year low of $5.65 and a 1 year high of $13.25. The firm's fifty day moving average price is $10.81 and its two-hundred day moving average price is $8.91. The firm has a market capitalization of $430.19 million, a P/E ratio of -94.38 and a beta of 1.09.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Adherex Technologies had a negative net margin of 6.09% and a negative return on equity of 5.71%. The firm had revenue of $17.87 million for the quarter, compared to analysts' expectations of $16.21 million. As a group, equities research analysts forecast that Adherex Technologies will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Adherex Technologies

In related news, CFO Robert Andrade sold 75,000 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $11.78, for a total value of $883,500.00. Following the completion of the transaction, the chief financial officer directly owned 217,675 shares of the company's stock, valued at approximately $2,564,211.50. This trade represents a 25.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.73% of the company's stock.

Institutional Trading of Adherex Technologies

An institutional investor recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC acquired a new stake in Adherex Technologies Inc. (NASDAQ:FENC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,897 shares of the company's stock, valued at approximately $66,000. 55.51% of the stock is owned by institutional investors.

About Adherex Technologies

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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.

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