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

Adherex Technologies Inc. (NASDAQ:FENC) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. One equities 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 1 year target price among brokerages that have updated their coverage on the stock in the last year is $17.00.

FENC has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a report on Thursday, October 15th. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Adherex Technologies in a research report on Wednesday, September 9th. Wedbush upped their target price on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Adherex Technologies in a research report on Wednesday, August 12th.

Insider Activity at Adherex Technologies

In other news, insider Pierre Sargis Sayad sold 12,000 shares of the firm’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 value of $146,160.00. Following the transaction, the insider owned 9,519 shares in the company, valued at $115,941.42. This trade represents a 55.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Andrade sold 75,000 shares of Adherex Technologies stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $11.78, for a total value of $883,500.00. Following the transaction, the chief financial officer directly owned 217,675 shares in the company, valued at approximately $2,564,211.50. The trade was a 25.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.73% of the company’s stock.

Adherex Technologies Stock Performance

Shares of NASDAQ:FENC opened at $10.32 on Friday. The business’s 50 day simple moving average is $11.10 and its two-hundred day simple moving average is $9.80. The firm has a market cap of $362.64 million, a P/E ratio of -79.38 and a beta of 1.23. Adherex Technologies has a 52-week low of $5.65 and a 52-week high of $13.25.

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

About Adherex Technologies

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.