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

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.00.

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

Insider Buying and Selling at Adherex Technologies

In related news, insider Pierre Sargis Sayad sold 12,000 shares of Adherex Technologies stock in a transaction 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 directly owned 9,519 shares of the company’s stock, valued at $115,941.42. The trade was a 55.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Andrade sold 75,000 shares of the company’s stock in a transaction 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 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 insiders.

Adherex Technologies Trading Up 1.9%

FENC opened at $10.46 on Friday. The company has a market cap of $367.54 million, a P/E ratio of -80.46 and a beta of 1.23. The business’s 50-day moving average price is $11.16 and its 200-day moving average price is $9.75. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $13.25.

Adherex Technologies (NASDAQ:FENC) last released its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter, beating 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 company had revenue of $17.87 million during the quarter, compared to analyst estimates of $16.21 million. Equities research analysts forecast that Adherex Technologies will post 0.28 earnings per share for the current fiscal 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.