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

Shares of Adherex Technologies Inc. (NASDAQ:FENC) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $17.00.

Several equities research analysts have weighed in on FENC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a research note on Thursday, October 15th. B. Riley Financial reiterated a “buy” rating and set a $18.00 price objective (up from $16.00) on shares of Adherex Technologies in a 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 report on Wednesday, September 9th. Finally, Wedbush raised their target price on Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th.

Insider Transactions at Adherex Technologies

In related news, insider Pierre Sargis Sayad sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $12.18, for a total transaction of $146,160.00. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Andrade sold 75,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $11.78, for a total value of $883,500.00. Following the completion of the transaction, the chief financial officer owned 217,675 shares in the company, valued at approximately $2,564,211.50. The trade was a 25.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.73% of the company’s stock.

Adherex Technologies Stock Down 2.3%

Adherex Technologies stock opened at $10.08 on Friday. Adherex Technologies has a 12-month low of $5.65 and a 12-month high of $13.25. The firm’s fifty day moving average is $11.06 and its 200 day moving average is $9.80. The company has a market capitalization of $354.21 million, a PE ratio of -77.54 and a beta of 1.23.

Adherex Technologies (NASDAQ:FENC) last issued its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $17.87 million for the quarter, compared to analyst estimates of $16.21 million. Adherex Technologies had a negative net margin of 6.09% and a negative return on equity of 5.71%. Sell-side analysts expect that Adherex Technologies will post 0.28 EPS for the current fiscal year.

Adherex Technologies Company Profile

Fennec Pharmaceuticals, Inc, formerly known as Adherex Technologies, is a biopharmaceutical company focused on developing and commercializing therapies for pediatric cancer. The company’s lead product is PEDMARK (sodium thiosulfate), a platinum-based chemotherapy protective agent intended to reduce the risk of cisplatin-induced ototoxicity, or hearing loss, in children with localized, non-metastatic solid tumors.

PEDMARK received approval from the U.S. Food and Drug Administration in 2022.