Zacks: Brokerages Anticipate Fennec Pharmaceuticals Inc (NASDAQ:FENC) Will Announce Earnings of -$0.01 Per Share

Brokerages expect Fennec Pharmaceuticals Inc (NASDAQ:FENC) to report ($0.01) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Fennec Pharmaceuticals’ earnings. The highest EPS estimate is $0.11 and the lowest is ($0.12). Fennec Pharmaceuticals reported earnings of ($0.19) per share during the same quarter last year, which would indicate a positive year over year growth rate of 94.7%. The company is expected to report its next quarterly earnings report on Thursday, May 13th.

On average, analysts expect that Fennec Pharmaceuticals will report full year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from ($0.60) to $3.27. For the next year, analysts expect that the business will post earnings of $0.30 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Fennec Pharmaceuticals.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its earnings results on Monday, March 29th. The company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.06.

Several equities research analysts have recently weighed in on FENC shares. Wedbush reissued an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, March 17th. Zacks Investment Research raised shares of Fennec Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 23rd.

FENC traded up $0.01 during trading on Thursday, reaching $6.42. The company had a trading volume of 2,954 shares, compared to its average volume of 100,958. The business has a 50 day simple moving average of $7.20 and a 200-day simple moving average of $7.44. The stock has a market cap of $166.94 million, a P/E ratio of -7.82 and a beta of 0.07. Fennec Pharmaceuticals has a 52 week low of $4.80 and a 52 week high of $10.67.

A number of institutional investors have recently added to or reduced their stakes in FENC. State Street Corp increased its position in shares of Fennec Pharmaceuticals by 16.5% during the third quarter. State Street Corp now owns 328,306 shares of the company’s stock worth $1,990,000 after acquiring an additional 46,438 shares during the period. Valley Forge Investment Consultants Inc. ADV bought a new stake in Fennec Pharmaceuticals during the 4th quarter valued at $298,000. Wells Fargo & Company MN lifted its holdings in shares of Fennec Pharmaceuticals by 298.8% in the 3rd quarter. Wells Fargo & Company MN now owns 50,846 shares of the company’s stock worth $308,000 after buying an additional 38,097 shares during the period. California Public Employees Retirement System bought a new position in shares of Fennec Pharmaceuticals during the 3rd quarter worth $215,000. Finally, BlackRock Inc. increased its stake in shares of Fennec Pharmaceuticals by 3.0% during the fourth quarter. BlackRock Inc. now owns 1,107,204 shares of the company’s stock valued at $8,249,000 after buying an additional 32,171 shares during the period. 53.58% of the stock is owned by 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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Earnings History and Estimates for Fennec Pharmaceuticals (NASDAQ:FENC)

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