Fennec Pharmaceuticals (NASDAQ:FENC) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Fennec Pharmaceuticals (NASDAQ:FENC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, 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. “

Separately, HC Wainwright restated a buy rating on shares of Fennec Pharmaceuticals in a research note on Thursday, June 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fennec Pharmaceuticals has a consensus rating of Buy and an average target price of $12.75.

Shares of FENC stock opened at $9.36 on Wednesday. Fennec Pharmaceuticals has a 52-week low of $5.80 and a 52-week high of $9.83. The stock has a market cap of $243.43 million, a price-to-earnings ratio of -13.37 and a beta of 0.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 33.11 and a current ratio of 33.11. The firm has a fifty day moving average of $8.23 and a 200-day moving average of $7.22.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings data on Tuesday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. On average, sell-side analysts predict that Fennec Pharmaceuticals will post 0.57 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC grew its holdings in shares of Fennec Pharmaceuticals by 12.9% in the 2nd quarter. Virtu Financial LLC now owns 13,454 shares of the company’s stock worth $98,000 after purchasing an additional 1,537 shares during the last quarter. Morgan Stanley grew its holdings in shares of Fennec Pharmaceuticals by 6.0% in the 2nd quarter. Morgan Stanley now owns 43,430 shares of the company’s stock worth $316,000 after purchasing an additional 2,453 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of Fennec Pharmaceuticals by 359.9% in the 2nd quarter. Advisor Group Holdings Inc. now owns 12,370 shares of the company’s stock worth $90,000 after purchasing an additional 9,680 shares during the last quarter. Barclays PLC grew its holdings in shares of Fennec Pharmaceuticals by 159.0% in the 1st quarter. Barclays PLC now owns 18,194 shares of the company’s stock worth $113,000 after purchasing an additional 11,170 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Fennec Pharmaceuticals by 137.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,914 shares of the company’s stock worth $142,000 after purchasing an additional 13,244 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.

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