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

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have been given an average rating of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.00.

FENC has been the topic of a number of analyst reports. B. Riley Financial reissued a “buy” rating and set a $18.00 target price (up from $16.00) on shares of Adherex Technologies in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Friday, July 17th. Wedbush boosted their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Adherex Technologies in a report on Wednesday, September 9th.

Insiders Place Their Bets

In related news, insider Pierre Sargis Sayad sold 12,000 shares of the stock in a transaction 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 sale, the insider owned 9,519 shares in the company, valued at approximately $115,941.42. This trade represents a 55.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Andrade sold 75,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $11.78, for a total value of $883,500.00. Following the transaction, the chief financial officer owned 217,675 shares of the company’s stock, valued at approximately $2,564,211.50. The trade was 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 Stock Performance

Shares of FENC opened at $10.60 on Wednesday. The firm has a market cap of $371.64 million, a P/E ratio of -81.54 and a beta of 1.10. Adherex Technologies has a fifty-two week low of $5.65 and a fifty-two week high of $13.25. The business has a 50-day moving average of $11.14 and a 200 day moving average of $9.32.

Adherex Technologies (NASDAQ:FENC) last posted its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Adherex Technologies had a negative net margin of 6.09% and a negative return on equity of 5.71%. The firm had revenue of $17.87 million during the quarter, compared to the consensus estimate of $16.21 million. As a group, research analysts predict that Adherex Technologies will post 0.28 earnings per share for the current fiscal year.

Adherex Technologies Company Profile

Adherex Technologies Inc was a biotechnology company that focused on developing therapies for cancer treatment and treatment-related complications. The company is now known as Fennec Pharmaceuticals Inc and trades on the Nasdaq under the symbol FENC.

Fennec’s principal product is PEDMARK (sodium thiosulfate), a formulation designed to reduce the risk of cisplatin-induced ototoxicity, or hearing loss, in children receiving cisplatin chemotherapy for localized, non-metastatic solid tumors.