Adherex Technologies (NASDAQ:FENC) Insider Pierre Sargis Sayad Sells 12,000 Shares

Adherex Technologies Inc. (NASDAQ:FENC) insider Pierre Sargis Sayad sold 12,000 shares of the firm’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Adherex Technologies Stock Up 0.7%

Adherex Technologies stock opened at $12.35 on Tuesday. Adherex Technologies Inc. has a 52 week low of $5.65 and a 52 week high of $13.25. The firm’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $8.95. The firm has a market capitalization of $432.99 million, a PE ratio of -95.00 and a beta of 1.09.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $17.87 million for the quarter, compared to analysts’ expectations of $16.21 million. Adherex Technologies had a negative net margin of 6.09% and a negative return on equity of 5.71%. On average, research analysts expect that Adherex Technologies Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FENC shares. B. Riley Financial reissued a “buy” rating and set a $18.00 price objective (up from $16.00) on shares of Adherex Technologies in a research note on Wednesday, August 12th. Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Wall Street Zen raised Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Wedbush boosted their price target on Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, HC Wainwright upped their price objective on Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Investors Weigh In On Adherex Technologies

A hedge fund recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new position in Adherex Technologies Inc. (NASDAQ:FENC) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies at the end of the most recent reporting period. 55.51% of the stock is 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. The company was formerly known as Adherex Technologies Inc and changed its name to Fennec Pharmaceuticals Inc in September 2014. Fennec Pharmaceuticals Inc was founded in 1996 and is based in Research Triangle Park, North Carolina.