Adherex Technologies Inc. (NASDAQ:FENC) Stock Has Average Price Target of $17.00 According to Analysts

Adherex Technologies Inc. (NASDAQ:FENC) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.00.

FENC has been the subject of a number of research reports. Wedbush boosted 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. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Adherex Technologies in a research note on Wednesday, September 9th. B. Riley Financial restated a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a research report on Thursday, October 15th.

Adherex Technologies Trading Up 6.6%

Shares of Adherex Technologies stock traded up $0.72 during trading hours on Thursday, reaching $11.62. 461,196 shares of the company’s stock were exchanged, compared to its average volume of 155,058. The firm has a market capitalization of $409.20 million, a price-to-earnings ratio of 1,162.00 and a beta of 1.29. The company has a fifty day moving average of $10.64 and a 200-day moving average of $9.36. Adherex Technologies has a 52-week low of $5.65 and a 52-week high of $13.25.

Adherex Technologies (NASDAQ:FENC) last released its earnings results on Thursday, November 12th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Adherex Technologies had a net margin of 2.52% and a return on equity of 9.58%. The business had revenue of $19.61 million for the quarter, compared to analysts’ expectations of $18.87 million. On average, equities research analysts anticipate that Adherex Technologies will post 0.32 earnings per share 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 dated Thursday, August 27th. The stock was sold at an average price of $11.78, for a total transaction of $883,500.00. Following the sale, the chief financial officer directly owned 217,675 shares in the company, valued at approximately $2,564,211.50. This trade represents a 25.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pierre Sargis Sayad sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $12.18, for a total value of $146,160.00. Following the completion of the transaction, the insider owned 9,519 shares of the company’s stock, valued at approximately $115,941.42. This represents a 55.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 10.73% of the company’s stock.

Adherex Technologies Company Profile

Adherex Technologies was a biotechnology company focused on developing treatments for cancer. In 2014, the company changed its name to Fennec Pharmaceuticals Inc.; Fennec later adopted the Nasdaq ticker FENC. Fennec is a commercial-stage biopharmaceutical company focused on therapies that address complications of cancer treatment. Its principal product is PEDMARK, a sodium thiosulfate injection approved in the United States to reduce the risk of cisplatin-related hearing damage in certain pediatric patients with cancer.