Fennec Pharmaceuticals’ (FENC) “Buy” Rating Reaffirmed at HC Wainwright

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Monday, TipRanks reports. They presently have a $17.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 172.44% from the company’s previous close.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Fennec Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Friday, November 15th. ValuEngine lowered Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday.

Shares of FENC traded down $0.02 during trading hours on Monday, hitting $6.24. The stock had a trading volume of 30,486 shares, compared to its average volume of 55,903. Fennec Pharmaceuticals has a 12 month low of $3.26 and a 12 month high of $7.65. The firm has a market capitalization of $124.59 million, a PE ratio of -12.48 and a beta of 0.21. The stock has a fifty day moving average price of $5.11 and a 200 day moving average price of $4.46.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.11. As a group, analysts forecast that Fennec Pharmaceuticals will post -0.67 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. bought a new stake in shares of Fennec Pharmaceuticals in the third quarter worth $57,000. Atria Investments LLC purchased a new position in Fennec Pharmaceuticals during the second quarter valued at $215,000. Hartford Financial Management Inc. lifted its position in Fennec Pharmaceuticals by 65.0% during the second quarter. Hartford Financial Management Inc. now owns 20,300 shares of the company’s stock valued at $81,000 after purchasing an additional 8,000 shares in the last quarter. Paloma Partners Management Co purchased a new position in Fennec Pharmaceuticals during the second quarter valued at $218,000. Finally, United Services Automobile Association lifted its position in Fennec Pharmaceuticals by 32.1% during the second quarter. United Services Automobile Association now owns 229,983 shares of the company’s stock valued at $920,000 after purchasing an additional 55,933 shares in the last quarter. 42.57% of the stock is owned by institutional investors.

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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