Adherex Technologies (NASDAQ:FENC) Given New $14.00 Price Target at Craig Hallum

Adherex Technologies (NASDAQ:FENC) had its target price hoisted by Craig Hallum from $13.00 to $14.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

FENC has been the topic of several other reports. Wall Street Zen downgraded shares of Adherex Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Adherex Technologies in a research note on Tuesday, May 20th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adherex Technologies currently has an average rating of “Buy” and an average price target of $13.33.

Adherex Technologies Price Performance

NASDAQ:FENC opened at $8.36 on Friday. Adherex Technologies has a one year low of $3.96 and a one year high of $9.42. The company has a market cap of $232.49 million, a P/E ratio of -19.90 and a beta of 0.40. The firm’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $7.15.

Adherex Technologies (NASDAQ:FENC) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The business had revenue of $9.76 million for the quarter, compared to analysts’ expectations of $9.52 million. As a group, equities research analysts expect that Adherex Technologies will post -0.11 earnings per share for the current year.

Insider Transactions at Adherex Technologies

In other Adherex Technologies news, Director Rosty Raykov sold 10,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $8.09, for a total transaction of $80,900.00. Following the sale, the director directly owned 55,878 shares in the company, valued at $452,053.02. This represents a 15.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 31,119 shares of company stock worth $254,546 in the last 90 days. Corporate insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Adherex Technologies

Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Adherex Technologies by 32.1% during the fourth quarter. Bank of America Corp DE now owns 35,827 shares of the company’s stock worth $226,000 after buying an additional 8,703 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Adherex Technologies by 11.5% during the fourth quarter. BNP Paribas Financial Markets now owns 44,626 shares of the company’s stock worth $282,000 after buying an additional 4,610 shares in the last quarter. Barclays PLC boosted its stake in shares of Adherex Technologies by 13.9% in the 4th quarter. Barclays PLC now owns 35,672 shares of the company’s stock valued at $225,000 after purchasing an additional 4,353 shares in the last quarter. Solas Capital Management LLC boosted its stake in shares of Adherex Technologies by 17.0% in the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock valued at $14,226,000 after purchasing an additional 327,383 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Adherex Technologies by 31.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock valued at $83,000 after purchasing an additional 3,155 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.