Fennec Pharmaceuticals’ (FENC) Outperform Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note issued to investors on Thursday. They currently have a $16.00 price objective on the stock.

FENC has been the subject of several other reports. Zacks Investment Research lowered shares of Fennec Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, November 28th. HC Wainwright reissued a buy rating and set a $18.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, December 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $15.00.

Shares of Fennec Pharmaceuticals stock opened at $5.81 on Thursday. Fennec Pharmaceuticals has a 1 year low of $5.33 and a 1 year high of $14.99. The company has a market cap of $115.60 million, a price-to-earnings ratio of -12.36 and a beta of -0.23.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its earnings results on Wednesday, March 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, equities research analysts anticipate that Fennec Pharmaceuticals will post -0.5 EPS for the current year.

Several hedge funds have recently bought and sold shares of the business. venBio Select Advisor LLC raised its stake in shares of Fennec Pharmaceuticals by 8.1% during the fourth quarter. venBio Select Advisor LLC now owns 1,105,999 shares of the company’s stock worth $7,056,000 after acquiring an additional 83,333 shares in the last quarter. Opaleye Management Inc. raised its stake in shares of Fennec Pharmaceuticals by 3.2% during the third quarter. Opaleye Management Inc. now owns 975,000 shares of the company’s stock worth $7,995,000 after acquiring an additional 30,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of Fennec Pharmaceuticals by 0.4% during the fourth quarter. BlackRock Inc. now owns 562,216 shares of the company’s stock worth $3,588,000 after acquiring an additional 2,429 shares in the last quarter. United Services Automobile Association raised its stake in shares of Fennec Pharmaceuticals by 87.4% during the fourth quarter. United Services Automobile Association now owns 154,190 shares of the company’s stock worth $984,000 after acquiring an additional 71,922 shares in the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Fennec Pharmaceuticals during the second quarter worth approximately $1,058,000. 48.99% of the stock is currently owned by hedge funds and other institutional investors.

Fennec Pharmaceuticals Company Profile

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.

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