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

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.3333.

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Adherex Technologies from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Adherex Technologies in a research report on Thursday, August 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a report on Saturday, September 27th. Craig Hallum raised their target price on shares of Adherex Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Zacks Research cut shares of Adherex Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th.

Adherex Technologies Price Performance

NASDAQ FENC opened at $9.48 on Wednesday. Adherex Technologies has a 12 month low of $3.96 and a 12 month high of $9.92. The company’s fifty day moving average price is $8.76 and its two-hundred day moving average price is $7.73. The company has a market capitalization of $264.59 million, a price-to-earnings ratio of -22.57 and a beta of 0.64.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $9.76 million for the quarter, compared to analyst estimates of $9.52 million. As a group, analysts anticipate that Adherex Technologies will post -0.11 EPS for the current year.

Insider Transactions at Adherex Technologies

In related news, Director Rosty Raykov sold 10,000 shares of Adherex Technologies stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $9.78, for a total value of $97,800.00. Following the sale, the director directly owned 82,501 shares in the company, valued at $806,859.78. This trade represents a 10.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Adherex Technologies

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of Adherex Technologies during the first quarter valued at approximately $66,000. Jane Street Group LLC bought a new stake in Adherex Technologies during the 1st quarter valued at $90,000. Nuveen LLC bought a new stake in Adherex Technologies during the 1st quarter valued at $158,000. Bank of America Corp DE raised its stake in Adherex Technologies by 32.1% during the 4th quarter. Bank of America Corp DE now owns 35,827 shares of the company’s stock valued at $226,000 after acquiring an additional 8,703 shares in the last quarter. Finally, AIGH Capital Management LLC bought a new stake in Adherex Technologies during the 1st quarter valued at $2,199,000. Institutional investors own 55.51% of the company’s stock.

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.