Fennec Pharmaceuticals (NASDAQ:FENC) Cut 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 released 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. “

FENC stock opened at $9.85 on Wednesday. The stock has a 50-day simple moving average of $9.16. Fennec Pharmaceuticals has a 1-year low of $5.80 and a 1-year high of $10.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 12.90 and a current ratio of 12.90. The company has a market cap of $256.20 million, a price-to-earnings ratio of -15.89 and a beta of -0.06.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. On average, equities analysts forecast that Fennec Pharmaceuticals will post 0.57 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of FENC. DG Capital Management LLC bought a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at about $4,292,000. Millennium Management LLC bought a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at about $2,951,000. Harbert Fund Advisors Inc. bought a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at about $881,000. Ergoteles LLC bought a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at about $673,000. Finally, Tibra Equities Europe Ltd bought a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at about $338,000. 46.52% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Initial Coin Offering (ICO)

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