Adherex Technologies (NASDAQ:FENC) Stock Rating Lowered by Wall Street Zen

by · The Markets Daily

Adherex Technologies (NASDAQ:FENC – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities analysts also recently weighed in on FENC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adherex Technologies in a research report on Thursday, January 22nd. Zacks Research upgraded Adherex Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. B. Riley Financial initiated coverage on shares of Adherex Technologies in a research note on Thursday, February 12th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Piper Sandler began coverage on shares of Adherex Technologies in a report on Friday, January 9th. They set an “overweight” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Adherex Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Get Our Latest Stock Analysis on Adherex Technologies

Adherex Technologies Stock Performance

FENC stock opened at $7.52 on Friday. The company has a 50 day moving average price of $7.95 and a two-hundred day moving average price of $8.22. The stock has a market capitalization of $258.39 million, a P/E ratio of -32.70 and a beta of 0.75. Adherex Technologies has a one year low of $4.68 and a one year high of $9.92.

Insider Activity

In other news, Director Rosty Raykov sold 10,349 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $7.76, for a total value of $80,308.24. Following the completion of the sale, the director owned 98,477 shares of the company’s stock, valued at $764,181.52. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Southpoint Capital Advisors Lp sold 1,000,000 shares of the stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $7.50, for a total value of $7,500,000.00. Following the completion of the sale, the insider owned 2,744,741 shares of the company’s stock, valued at approximately $20,585,557.50. This trade represents a 26.70% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Adherex Technologies

An institutional investor recently bought a new position in Adherex Technologies stock. Jane Street Group LLC acquired a new stake in shares of Adherex Technologies Inc. (NASDAQ:FENC – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,718 shares of the company’s stock, valued at approximately $90,000. Jane Street Group LLC owned 0.05% of Adherex Technologies as of its most recent SEC filing. 55.51% of the stock is owned by institutional investors and hedge funds.

About Adherex Technologies

(Get Free Report)

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.

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