Fennec Pharmaceuticals (NASDAQ:FENC) Upgraded at Zacks Investment Research

Fennec Pharmaceuticals (NASDAQ:FENC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Fennec Pharmaceuticals Inc. is a clinical-stage biotechnology company. It is focused on the development of Sodium Thiosulfate for the prevention of ototoxicity from cisplatin in pediatric patients. The Company’s products include Eniluracil and Sodium Thiosulfate (STS). Fennec Pharmaceuticals Inc., formerly known as Adherex Technologies Inc., is based in United States. “

A number of other research analysts have also recently commented on the company. Wedbush set a $38.00 target price on Obseva and gave the company a “buy” rating in a research note on Friday, May 10th. HC Wainwright set a $55.00 target price on Acer Therapeutics and gave the company a “buy” rating in a research note on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $12.50.

Shares of FENC stock traded up $0.28 during trading hours on Tuesday, reaching $4.43. The company’s stock had a trading volume of 50,742 shares, compared to its average volume of 67,082. The company has a market capitalization of $80.38 million, a PE ratio of -8.86 and a beta of -0.15. The business’s fifty day moving average is $3.97. Fennec Pharmaceuticals has a one year low of $3.26 and a one year high of $10.61.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its earnings results on Thursday, May 9th. The company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.01. Sell-side analysts expect that Fennec Pharmaceuticals will post -0.59 earnings per share for the current year.

An institutional investor recently raised its position in Fennec Pharmaceuticals stock. Geode Capital Management LLC increased its position in Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,489 shares of the company’s stock after purchasing an additional 5,441 shares during the quarter. Geode Capital Management LLC owned approximately 0.20% of Fennec Pharmaceuticals worth $251,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 48.46% of the company’s stock.

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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