Fennec Pharmaceuticals (NASDAQ:FENC) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report published on Tuesday, TipRanks reports. HC Wainwright currently has a $17.00 target price on the stock.

A number of other analysts have also issued reports on FENC. Zacks Investment Research lowered Fennec Pharmaceuticals from a strong-buy rating to a hold rating in a research note on Tuesday, January 14th. ValuEngine lowered Fennec Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, February 1st.

Shares of NASDAQ:FENC opened at $7.82 on Tuesday. The stock’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $5.40. Fennec Pharmaceuticals has a 12-month low of $3.26 and a 12-month high of $8.40. The firm has a market cap of $143.14 million, a price-to-earnings ratio of -12.82 and a beta of 0.10.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. On average, equities analysts predict that Fennec Pharmaceuticals will post -0.59 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Granahan Investment Management Inc. MA raised its holdings in shares of Fennec Pharmaceuticals by 3.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 455,979 shares of the company’s stock worth $2,193,000 after purchasing an additional 16,896 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Fennec Pharmaceuticals by 107.6% during the 4th quarter. Wedbush Securities Inc. now owns 24,700 shares of the company’s stock valued at $160,000 after buying an additional 12,800 shares during the period. Atria Investments LLC purchased a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at about $215,000. Hartford Financial Management Inc. raised its holdings in shares of Fennec Pharmaceuticals by 47.8% during the 3rd quarter. Hartford Financial Management Inc. now owns 30,000 shares of the company’s stock valued at $144,000 after buying an additional 9,700 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Fennec Pharmaceuticals during the 4th quarter valued at about $92,000. Institutional investors own 42.65% 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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