Fennec Pharmaceuticals’ (FENC) Outperform Rating Reaffirmed at Wedbush

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Monday,RTT News reports. They presently have a $13.00 price target on the stock. Wedbush’s target price indicates a potential upside of 112.77% from the stock’s previous close.

A number of other analysts have also commented on FENC. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th.

Fennec Pharmaceuticals Price Performance

FENC traded down $0.77 during trading on Monday, hitting $6.11. 187,467 shares of the stock traded hands, compared to its average volume of 111,607. The firm has a 50-day moving average of $6.39 and a 200 day moving average of $5.61. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.49. The firm has a market capitalization of $168.40 million, a P/E ratio of -61.09 and a beta of 0.36.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Monday, March 10th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.62). Fennec Pharmaceuticals had a negative return on equity of 53.38% and a negative net margin of 2.30%. As a group, equities analysts predict that Fennec Pharmaceuticals will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Fennec Pharmaceuticals

In related news, Director Rosty Raykov sold 10,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $6.66, for a total value of $66,600.00. Following the completion of the transaction, the director now directly owns 76,294 shares in the company, valued at $508,118.04. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 31,186 shares of company stock valued at $203,389. 10.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of Fennec Pharmaceuticals by 18.7% during the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after purchasing an additional 2,330 shares during the last quarter. Wells Fargo & Company MN raised its stake in Fennec Pharmaceuticals by 31.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock valued at $83,000 after buying an additional 3,155 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Fennec Pharmaceuticals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 303,090 shares of the company’s stock worth $1,916,000 after acquiring an additional 3,792 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Fennec Pharmaceuticals by 12.9% in the fourth quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock worth $217,000 after acquiring an additional 3,911 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Fennec Pharmaceuticals by 13.9% during the fourth quarter. Barclays PLC now owns 35,672 shares of the company’s stock valued at $225,000 after acquiring an additional 4,353 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

About Fennec Pharmaceuticals

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.