Adherex Technologies (NASDAQ:FENC) Upgraded at Zacks Research

Adherex Technologies (NASDAQ:FENC) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Adherex Technologies from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research note on Tuesday, April 21st. HC Wainwright boosted their price target on Adherex Technologies from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Adherex Technologies in a research note on Thursday, April 16th. Finally, B. Riley Financial assumed coverage on Adherex Technologies in a research note on Thursday, February 12th. They issued a “buy” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.40.

Adherex Technologies Stock Down 0.4%

Shares of FENC stock opened at $9.89 on Monday. The firm has a 50 day moving average price of $7.21 and a two-hundred day moving average price of $7.64. The company has a market capitalization of $341.61 million, a PE ratio of -34.10 and a beta of 0.91. Adherex Technologies has a 12-month low of $5.65 and a 12-month high of $10.45.

Adherex Technologies (NASDAQ:FENC) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $15.11 million during the quarter, compared to the consensus estimate of $13.90 million. Adherex Technologies had a negative net margin of 17.12% and a negative return on equity of 43.87%. As a group, research analysts expect 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 the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.47, for a total value of $69,753.07. Following the completion of the sale, the director directly owned 121,451 shares in the company, valued at approximately $785,787.97. The trade was a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.73% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned approximately 0.05% of Adherex Technologies at the end of the most recent reporting period. Hedge funds and other institutional investors 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.