Adherex Technologies (NASDAQ:FENC - Get Free Report) had its price target hoisted by analysts at Craig Hallum from $13.00 to $14.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Craig Hallum's price objective would indicate a potential upside of 83.58% from the stock's current price.
A number of other research analysts have also issued reports on FENC. Wall Street Zen lowered shares of Adherex Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. HC Wainwright reiterated a "buy" rating and set a $13.00 price target on shares of Adherex Technologies in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $13.33.
Read Our Latest Stock Report on Adherex Technologies
Adherex Technologies Stock Performance
NASDAQ FENC traded down $0.2840 during trading on Friday, reaching $7.6260. The company's stock had a trading volume of 1,416 shares, compared to its average volume of 76,978. The firm has a market cap of $212.08 million, a price-to-earnings ratio of -18.33 and a beta of 0.40. Adherex Technologies has a twelve month low of $3.96 and a twelve month high of $9.42. The business's fifty day moving average price is $8.41 and its 200-day moving average price is $7.17.
Adherex Technologies (NASDAQ:FENC - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The business had revenue of $9.76 million for the quarter, compared to the consensus estimate of $9.52 million. As a group, sell-side analysts forecast that Adherex Technologies will post -0.11 EPS for the current fiscal year.
Insider Activity
In other Adherex Technologies news, Director Rosty Raykov sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.09, for a total value of $80,900.00. Following the sale, the director owned 55,878 shares of the company's stock, valued at $452,053.02. This represents a 15.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 31,119 shares of company stock valued at $254,546 over the last quarter. 10.98% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Adherex Technologies
Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in shares of Adherex Technologies in the first quarter valued at approximately $66,000. Wells Fargo & Company MN increased its position in Adherex Technologies by 31.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock worth $83,000 after purchasing an additional 3,155 shares during the last quarter. Jane Street Group LLC acquired a new position in Adherex Technologies during the first quarter worth approximately $90,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Adherex Technologies during the fourth quarter worth approximately $97,000. Finally, MetLife Investment Management LLC acquired a new position in Adherex Technologies during the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 55.51% of the company's stock.
About Adherex Technologies
(
Get Free Report)
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.
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