Craig Hallum Lowers Fennec Pharmaceuticals (NASDAQ:FENC) Price Target to $15.00

Fennec Pharmaceuticals (NASDAQ:FENC) had its target price lowered by Craig Hallum from $17.00 to $15.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 172.73% from the stock’s previous close.

FENC has been the subject of several other reports. Wedbush reiterated an “outperform” rating and set a $14.00 price target (down from $16.00) on shares of Fennec Pharmaceuticals in a research report on Tuesday. HC Wainwright cut their price target on Fennec Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th.

Fennec Pharmaceuticals Stock Performance

FENC stock opened at $5.50 on Wednesday. The company has a quick ratio of 6.72, a current ratio of 6.93 and a debt-to-equity ratio of 9.86. The business’s fifty day simple moving average is $6.30 and its two-hundred day simple moving average is $8.28. Fennec Pharmaceuticals has a twelve month low of $5.26 and a twelve month high of $11.92. The firm has a market cap of $150.30 million, a price-to-earnings ratio of 186.00 and a beta of 0.29.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26). Fennec Pharmaceuticals had a negative return on equity of 39.41% and a net margin of 6.33%. The business had revenue of $7.26 million during the quarter, compared to analyst estimates of $13.67 million. During the same period in the prior year, the business posted ($0.21) EPS. Analysts predict that Fennec Pharmaceuticals will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in FENC. Tower Research Capital LLC TRC lifted its stake in shares of Fennec Pharmaceuticals by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock worth $34,000 after purchasing an additional 1,578 shares in the last quarter. Eudaimonia Advisors LLC grew its holdings in shares of Fennec Pharmaceuticals by 8.2% during the first quarter. Eudaimonia Advisors LLC now owns 35,359 shares of the company’s stock valued at $393,000 after purchasing an additional 2,673 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Fennec Pharmaceuticals during the second quarter valued at approximately $49,000. Rhumbline Advisers grew its holdings in shares of Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after purchasing an additional 8,987 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Fennec Pharmaceuticals during the second quarter worth approximately $69,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.