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 Wednesday.
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 firms have also weighed in on FENC. HC Wainwright set a $18.00 price objective on shares of Fennec Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 14th. ValuEngine lowered shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Wedbush cut their price objective on shares of Fennec Pharmaceuticals from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, September 17th. Goldman Sachs Group assumed coverage on shares of Fennec Pharmaceuticals in a research report on Thursday, October 11th. They set a “buy” rating for the company. Finally, Dawson James assumed coverage on shares of Fennec Pharmaceuticals in a research report on Thursday, October 11th. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.75.
Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Analysts forecast that Fennec Pharmaceuticals will post -0.52 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. increased its position in 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 purchasing an additional 30,000 shares during the last quarter. BlackRock Inc. acquired a new position in Fennec Pharmaceuticals during the second quarter worth approximately $5,795,000. Northern Trust Corp acquired a new position in Fennec Pharmaceuticals during the second quarter worth approximately $1,058,000. United Services Automobile Association increased its position in Fennec Pharmaceuticals by 48.6% during the third quarter. United Services Automobile Association now owns 82,268 shares of the company’s stock worth $675,000 after purchasing an additional 26,920 shares during the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in Fennec Pharmaceuticals by 20.3% during the second quarter. Granahan Investment Management Inc. MA now owns 57,002 shares of the company’s stock worth $595,000 after purchasing an additional 9,626 shares during the last quarter. 49.25% of the stock is 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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