Fennec Pharmaceuticals Inc (NASDAQ:FENC) Sees Significant Growth in Short Interest

Fennec Pharmaceuticals Inc (NASDAQ:FENC) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,950,000 shares, a growth of 8.3% from the June 30th total of 1,800,000 shares. Approximately 8.6% of the shares of the company are short sold. Based on an average trading volume of 144,300 shares, the short-interest ratio is presently 13.5 days.

Analyst Upgrades and Downgrades

FENC has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Fennec Pharmaceuticals in a report on Tuesday, May 14th. Craig Hallum dropped their target price on shares of Fennec Pharmaceuticals from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, HC Wainwright reduced their price target on shares of Fennec Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 15th.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Large investors have recently modified their holdings of the stock. Gendell Jeffrey L boosted its position in Fennec Pharmaceuticals by 7.1% in the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock valued at $3,364,000 after buying an additional 20,000 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Fennec Pharmaceuticals in the 1st quarter worth approximately $1,604,000. Worth Venture Partners LLC grew its position in Fennec Pharmaceuticals by 52.7% during the 4th quarter. Worth Venture Partners LLC now owns 141,500 shares of the company’s stock worth $1,588,000 after acquiring an additional 48,864 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Fennec Pharmaceuticals by 42.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after acquiring an additional 20,602 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its position in Fennec Pharmaceuticals by 4.4% in the 4th quarter. Hartford Financial Management Inc. now owns 47,348 shares of the company’s stock valued at $531,000 after acquiring an additional 2,000 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ FENC traded up $0.02 during trading hours on Thursday, reaching $6.49. The stock had a trading volume of 1,154 shares, compared to its average volume of 123,372. The company has a market cap of $177.37 million, a price-to-earnings ratio of 215.67 and a beta of 0.29. The company has a debt-to-equity ratio of 9.86, a current ratio of 6.93 and a quick ratio of 6.72. The business’s fifty day moving average is $6.52 and its two-hundred day moving average is $8.60. Fennec Pharmaceuticals has a twelve month low of $5.66 and a twelve month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Fennec Pharmaceuticals had a negative return on equity of 39.41% and a net margin of 6.33%. The business had revenue of $25.38 million for the quarter, compared to the consensus estimate of $10.46 million. During the same period in the previous year, the business posted ($0.23) earnings per share. As a group, research analysts expect that Fennec Pharmaceuticals will post 0.36 EPS for the current year.

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.