HC Wainwright Reiterates Buy Rating for Fennec Pharmaceuticals (FENC)

HC Wainwright reaffirmed their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report issued on Wednesday. HC Wainwright currently has a $18.00 price target on the stock.

FENC has been the subject of several other research reports. ValuEngine upgraded Fennec Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 2nd. Wedbush initiated coverage on Fennec Pharmaceuticals in a research report on Monday, March 12th. They set an outperform rating and a $17.00 target price for the company. Finally, Zacks Investment Research upgraded Fennec Pharmaceuticals from a hold rating to a buy rating and set a $12.00 target price for the company in a research report on Tuesday, May 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Fennec Pharmaceuticals has an average rating of Buy and an average target price of $17.25.

Fennec Pharmaceuticals opened at $10.98 on Wednesday, according to Marketbeat.com. Fennec Pharmaceuticals has a 12 month low of $7.55 and a 12 month high of $14.99.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings results on Monday, May 14th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. equities analysts predict that Fennec Pharmaceuticals will post -0.41 EPS for the current fiscal year.

In other Fennec Pharmaceuticals news, major shareholder Manchester Management Pr, Llc sold 914,745 shares of the business’s stock in a transaction that occurred on Wednesday, March 28th. The stock was sold at an average price of $10.61, for a total transaction of $9,705,444.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.88% of the stock is owned by insiders.

An institutional investor recently raised its position in Fennec Pharmaceuticals stock. 683 Capital Management LLC grew its stake in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 867,185 shares of the company’s stock after acquiring an additional 58,820 shares during the period. Fennec Pharmaceuticals comprises approximately 0.7% of 683 Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. 683 Capital Management LLC owned approximately 5.45% of Fennec Pharmaceuticals worth $8,689,000 at the end of the most recent reporting period. Institutional investors own 41.05% 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.

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