Adherex Technologies (NASDAQ:FENC) Stock Lifted to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Adherex Technologies (NASDAQ:FENC) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks reports.

Other research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Adherex Technologies in a report on Wednesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Thursday, October 15th. Wedbush upped their price target on Adherex Technologies from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note 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 note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Adherex Technologies Stock Up 6.6%

Shares of FENC traded up $0.72 during trading hours on Thursday, reaching $11.62. 461,196 shares of the company traded hands, compared to its average volume of 155,058. The company’s fifty day moving average price is $10.64 and its two-hundred day moving average price is $9.36. The company has a market capitalization of $409.20 million, a price-to-earnings ratio of 1,162.00 and a beta of 1.29. Adherex Technologies has a 12 month low of $5.65 and a 12 month high of $13.25.

Adherex Technologies (NASDAQ:FENC) last announced its quarterly earnings results on Thursday, November 12th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Adherex Technologies had a net margin of 2.52% and a return on equity of 9.58%. The company had revenue of $19.61 million for the quarter, compared to analysts’ expectations of $18.87 million. On average, analysts expect that Adherex Technologies will post 0.32 EPS for the current year.

Insider Buying and Selling

In other news, insider Pierre Sargis Sayad sold 12,000 shares of the business’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 sale, the insider directly owned 9,519 shares of the company’s stock, valued at $115,941.42. The trade was a 55.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Andrade sold 75,000 shares of the company’s 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 sale, the chief financial officer owned 217,675 shares in the company, valued at $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. 10.73% of the stock is currently owned by company insiders.

Adherex Technologies Company Profile

Adherex Technologies was a biotechnology company focused on developing treatments for cancer. In 2014, the company changed its name to Fennec Pharmaceuticals Inc.; Fennec later adopted the Nasdaq ticker FENC. Fennec is a commercial-stage biopharmaceutical company focused on therapies that address complications of cancer treatment. Its principal product is PEDMARK, a sodium thiosulfate injection approved in the United States to reduce the risk of cisplatin-related hearing damage in certain pediatric patients with cancer.