Adherex Technologies Inc. (NASDAQ:FENC) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate FENC “Moderate Buy”: Four of six analysts recommend buying the stock, with an average 12-month price target of $17.00 versus its recent price of $9.98.
• Insiders recently sold shares: CFO Robert Andrade sold 75,000 shares for $883,500, while insider Pierre Sargis Sayad sold 12,000 shares; insiders own 10.73% of the company.
• Quarterly results beat expectations: The company reported $0.05 in earnings per share and $17.87 million in revenue, exceeding analyst estimates of $0.02 EPS and $16.21 million in revenue.

Adherex Technologies Inc. (NASDAQ:FENC - Get Free Report) has earned an average rating of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage 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 report on Wednesday, August 12th. Wedbush raised their target price on Adherex Technologies from $13.00 to $16.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Adherex Technologies in a research report on Wednesday, September 9th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adherex Technologies in a research note on Thursday.

Insider Activity at Adherex Technologies

In related news, insider Pierre Sargis Sayad sold 12,000 shares of the firm'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 transaction, the insider owned 9,519 shares of the company's stock, valued at approximately $115,941.42. This trade represents a 55.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert Andrade sold 75,000 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $11.78, for a total transaction of $883,500.00. Following the sale, the chief financial officer owned 217,675 shares of the company's stock, valued at $2,564,211.50. This trade represents a 25.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.73% of the stock is owned by corporate insiders.

Adherex Technologies Price Performance

NASDAQ FENC opened at $9.98 on Friday. The business's fifty day moving average price is $11.22 and its 200-day moving average price is $9.66. The stock has a market capitalization of $350.68 million, a price-to-earnings ratio of -76.77 and a beta of 1.23. Adherex Technologies has a 1-year low of $5.65 and a 1-year high of $13.25.

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 analysts' consensus estimates of $0.02 by $0.03. Adherex Technologies had a negative return on equity of 5.71% and a negative net margin of 6.09%. The firm had revenue of $17.87 million for the quarter, compared to the consensus estimate of $16.21 million. Equities research analysts anticipate that Adherex Technologies will post 0.28 EPS for the current year.

About Adherex Technologies

Adherex Technologies was a biotechnology company that focused on developing therapies for cancer and other serious medical conditions. The company later changed its name to Fennec Pharmaceuticals, while continuing to trade under the symbol FENC.

Fennec's principal product is PEDMARK, a formulation of sodium thiosulfate designed to reduce the risk of cisplatin-induced ototoxicity, or hearing loss, in pediatric patients receiving chemotherapy. PEDMARK is administered in conjunction with cisplatin and is intended to address a significant treatment-related complication in children with cancer.

The company's activities have centered on the development, regulatory approval and commercialization of PEDMARK for pediatric oncology care.

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