HC Wainwright Reaffirms Buy Rating for Fennec Pharmaceuticals (NASDAQ:FENC)

HC Wainwright restated their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note released on Tuesday morning, TipRanks reports. HC Wainwright currently has a $17.00 price target on the stock.

A number of other research firms have also recently weighed in on FENC. Zacks Investment Research cut shares of Fennec Pharmaceuticals from a strong-buy rating to a hold rating in a report on Tuesday, January 14th. ValuEngine cut shares of Fennec Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, February 1st.

Shares of FENC stock traded up $0.30 during trading hours on Tuesday, reaching $7.85. The stock had a trading volume of 591 shares, compared to its average volume of 55,121. Fennec Pharmaceuticals has a twelve month low of $3.26 and a twelve month high of $8.40. The firm has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $5.38. The firm has a market capitalization of $143.14 million, a PE ratio of -12.87 and a beta of 0.10.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.11. Analysts predict that Fennec Pharmaceuticals will post -0.59 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Kam Lawrence acquired a new position in Fennec Pharmaceuticals during the 4th quarter valued at about $5,417,000. Granahan Investment Management Inc. MA increased its stake in Fennec Pharmaceuticals by 3.8% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 455,979 shares of the company’s stock valued at $2,193,000 after buying an additional 16,896 shares during the period. Hartford Financial Management Inc. increased its stake in Fennec Pharmaceuticals by 16.7% during the 4th quarter. Hartford Financial Management Inc. now owns 35,000 shares of the company’s stock valued at $227,000 after buying an additional 5,000 shares during the period. Wedbush Securities Inc. increased its stake in 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. Finally, Renaissance Technologies LLC acquired a new position in Fennec Pharmaceuticals during the 4th quarter valued at about $154,000. 42.65% of the stock is currently 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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