Wedbush Forecasts Lower Earnings for Adherex Technologies

Key Points

• Wedbush analysts cut their FY2025 earnings estimates for Adherex Technologies to $0.32 per share, down from $0.42, while the current consensus estimate is a loss of $0.11 per share.
• Adherex Technologies reported a quarterly loss of ($0.11) per share, missing estimates and generating revenue of $9.76 million, which exceeded analyst expectations.
• Despite the downgrade, Adherex Technologies maintains a consensus rating of "Buy" from analysts, with a price target averaging $13.33 per share.

Adherex Technologies Inc. (NASDAQ:FENC - Free Report) - Analysts at Wedbush decreased their FY2025 earnings per share (EPS) estimates for shares of Adherex Technologies in a report issued on Thursday, August 14th. Wedbush analyst D. Nierengarten now anticipates that the company will earn $0.32 per share for the year, down from their previous estimate of $0.42. The consensus estimate for Adherex Technologies' current full-year earnings is ($0.11) per share. Wedbush also issued estimates for Adherex Technologies' Q4 2025 earnings at $0.07 EPS and Q1 2026 earnings at $0.08 EPS.

Adherex Technologies (NASDAQ:FENC - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $9.76 million during the quarter, compared to the consensus estimate of $9.52 million.

FENC has been the subject of several other reports. Wall Street Zen upgraded Adherex Technologies from a "hold" rating to a "buy" rating in a research report on Sunday. Zacks Research downgraded Adherex Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. HC Wainwright reaffirmed a "buy" rating and set a $13.00 target price on shares of Adherex Technologies in a research note on Thursday. Finally, Craig Hallum raised their target price on Adherex Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $13.33.

Adherex Technologies Price Performance

Shares of FENC stock traded up $0.1150 on Monday, hitting $8.1950. 39,018 shares of the company's stock were exchanged, compared to its average volume of 77,154. Adherex Technologies has a 12 month low of $3.96 and a 12 month high of $9.42. The stock has a market cap of $227.90 million, a P/E ratio of -19.51 and a beta of 0.40. The company has a 50 day moving average of $8.41 and a 200 day moving average of $7.18.

Insider Buying and Selling at Adherex Technologies

In other news, Director Rosty Raykov sold 10,000 shares of Adherex Technologies stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $8.09, for a total value of $80,900.00. Following the completion of the transaction, the director directly owned 55,878 shares in the company, valued at approximately $452,053.02. The trade was a 15.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 31,119 shares of company stock valued at $254,546 in the last three months. 11.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adherex Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FENC. AIGH Capital Management LLC purchased a new position in Adherex Technologies during the first quarter worth about $2,199,000. Solas Capital Management LLC raised its position in Adherex Technologies by 17.0% during the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company's stock valued at $14,226,000 after purchasing an additional 327,383 shares during the last quarter. Nuveen LLC bought a new position in Adherex Technologies during the 1st quarter valued at approximately $158,000. MetLife Investment Management LLC bought a new position in Adherex Technologies during the 4th quarter valued at approximately $99,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Adherex Technologies during the 4th quarter worth approximately $97,000. 55.51% of the stock is currently owned by hedge funds and other 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.