Wedbush Reiterates Outperform Rating for Fennec Pharmaceuticals (NASDAQ:FENC)

Wedbush reiterated their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report released on Thursday morning,RTT News reports. They currently have a $13.00 target price on the stock, down from their previous target price of $14.00.

Other equities research analysts have also recently issued reports about the company. Craig Hallum lowered their target price on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. HC Wainwright lowered their price objective on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ:FENC opened at $4.29 on Thursday. The business has a fifty day moving average of $4.84 and a 200-day moving average of $6.11. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.75 and a current ratio of 8.02. Fennec Pharmaceuticals has a twelve month low of $4.09 and a twelve month high of $11.92. The firm has a market cap of $117.67 million, a PE ratio of 107.28 and a beta of 0.27.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. The company had revenue of $7.26 million during the quarter, compared to the consensus estimate of $13.67 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. On average, equities research analysts predict that Fennec Pharmaceuticals will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FENC. Gendell Jeffrey L grew its stake in shares of Fennec Pharmaceuticals by 7.1% during the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock worth $3,364,000 after purchasing an additional 20,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after buying an additional 20,602 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Fennec Pharmaceuticals during the 2nd quarter worth about $409,000. Russell Investments Group Ltd. grew its position in shares of Fennec Pharmaceuticals by 71,275.0% during the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after buying an additional 34,212 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Fennec Pharmaceuticals by 67.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after acquiring an additional 13,223 shares during the last quarter. Institutional investors and hedge funds 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.