Pierre Sargis Sayad Sells 12,000 Shares of Adherex Technologies (NASDAQ:FENC) Stock

Adherex Technologies Inc. (NASDAQ:FENC) insider Pierre Sargis Sayad sold 12,000 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $12.18, for a total value of $146,160.00. Following the completion of the transaction, the insider directly owned 9,519 shares in the company, valued at approximately $115,941.42. The trade was a 55.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Adherex Technologies Price Performance

FENC opened at $12.03 on Wednesday. The company has a market capitalization of $421.75 million, a PE ratio of -92.54 and a beta of 1.09. Adherex Technologies Inc. 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 $10.90 and a 200-day moving average of $8.97.

Adherex Technologies (NASDAQ:FENC) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 business had revenue of $17.87 million during the quarter, compared to analysts’ expectations of $16.21 million. On average, equities research analysts expect that Adherex Technologies Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adherex Technologies

A hedge fund recently bought a new stake in Adherex Technologies stock. AQR Capital Management LLC bought a new position in shares of Adherex Technologies Inc. (NASDAQ:FENC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,897 shares of the company’s stock, valued at approximately $66,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FENC shares. Zacks Research raised shares of Adherex Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Wedbush raised their price target on shares of Adherex Technologies from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adherex Technologies in a research note on Friday, July 17th. HC Wainwright upped their price objective on shares of Adherex Technologies from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, 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 research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Adherex Technologies has an average rating of “Moderate Buy” and an average price target of $17.00.

About Adherex Technologies

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.