Adherex Technologies (NASDAQ:FENC) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Adherex Technologies (NASDAQ:FENC) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other equities analysts have also commented on FENC. Zacks Research lowered shares of Adherex Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 25th. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Adherex Technologies in a report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adherex Technologies in a report on Tuesday, April 21st. Finally, B. Riley Financial assumed coverage on shares of Adherex Technologies in a report on Thursday, February 12th. They issued a “buy” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Adherex Technologies has an average rating of “Moderate Buy” and a consensus price target of $14.80.

Adherex Technologies Stock Up 5.5%

FENC stock opened at $9.75 on Friday. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $10.17. The firm has a market cap of $336.77 million, a P/E ratio of -33.62 and a beta of 0.91. The company’s 50-day moving average price is $6.92 and its two-hundred day moving average price is $7.58.

Adherex Technologies (NASDAQ:FENC) last released its earnings results on Thursday, May 14th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Adherex Technologies had a negative net margin of 17.12% and a negative return on equity of 85.61%. The firm had revenue of $15.11 million for the quarter, compared to analyst estimates of $13.90 million. Equities analysts predict that Adherex Technologies will post 0.26 EPS for the current year.

Insider Activity

In related news, Director Rosty Raykov sold 10,781 shares of Adherex Technologies stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.47, for a total transaction of $69,753.07. Following the sale, the director directly owned 121,451 shares of the company’s stock, valued at approximately $785,787.97. The trade was a 8.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.73% of the company’s stock.

Institutional Investors Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC purchased a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned about 0.05% of Adherex Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Adherex Technologies Company Profile

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.