Fennec Pharmaceuticals’ (FENC) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research 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.

FENC has been the subject of a number of other research reports. Craig Hallum decreased their target price on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. HC Wainwright dropped their price objective on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd.

Fennec Pharmaceuticals Trading Down 2.8 %

NASDAQ FENC traded down $0.12 on Thursday, hitting $4.24. 28,676 shares of the company were exchanged, compared to its average volume of 112,769. The company’s 50 day moving average price is $4.87 and its 200-day moving average price is $6.17. The company has a debt-to-equity ratio of 9.86, a current ratio of 8.02 and a quick ratio of 7.75. The firm has a market capitalization of $116.26 million, a P/E ratio of 109.03 and a beta of 0.27. Fennec Pharmaceuticals has a twelve month low of $4.09 and a twelve month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its 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 net margin of 5.59% and a negative return on equity of 53.38%. The business had revenue of $7.26 million for the quarter, compared to analysts’ expectations of $13.67 million. During the same period last year, the firm earned ($0.21) EPS. Analysts predict that Fennec Pharmaceuticals will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FENC. BNP Paribas Financial Markets boosted its stake in shares of Fennec Pharmaceuticals by 67.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock worth $364,000 after acquiring an additional 13,223 shares during the period. Russell Investments Group Ltd. boosted its stake 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 acquiring an additional 34,212 shares during the period. Gendell Jeffrey L boosted its stake in shares of Fennec Pharmaceuticals by 7.1% during the 1st quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock worth $3,364,000 after acquiring an additional 20,000 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 period. Finally, Rhumbline Advisers boosted its stake in shares of Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after acquiring an additional 8,987 shares during the period. 55.51% of the stock is currently owned by institutional investors.

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.