Craig Hallum Forecasts Strong Price Appreciation for Fennec Pharmaceuticals (NASDAQ:FENC) Stock

Fennec Pharmaceuticals (NASDAQ:FENC) had its price target upped by research analysts at Craig Hallum from $12.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 98.47% from the stock’s previous close.

FENC has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Monday, March 10th.

Fennec Pharmaceuticals Stock Performance

FENC opened at $6.55 on Wednesday. Fennec Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $7.64. The firm’s fifty day moving average is $5.90 and its 200 day moving average is $5.91. The stock has a market cap of $180.74 million, a price-to-earnings ratio of -65.49 and a beta of 0.32.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its earnings results on Tuesday, May 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. The company had revenue of $8.51 million for the quarter, compared to analysts’ expectations of $8.18 million. During the same quarter in the previous year, the company earned $0.41 EPS. On average, equities research analysts predict that Fennec Pharmaceuticals will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $5.25, for a total value of $52,500.00. Following the sale, the director now directly owns 61,156 shares in the company, valued at $321,069. The trade was a 14.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 30,000 shares of company stock worth $183,500. Insiders own 11.76% of the company’s stock.

Institutional Trading of Fennec Pharmaceuticals

Large investors have recently made changes to their positions in the business. Intech Investment Management LLC bought a new stake in shares of Fennec Pharmaceuticals in the 4th quarter worth about $69,000. Wells Fargo & Company MN increased its holdings in shares of Fennec Pharmaceuticals by 31.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock worth $83,000 after buying an additional 3,155 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Fennec Pharmaceuticals in the 4th quarter worth about $97,000. MetLife Investment Management LLC bought a new position in Fennec Pharmaceuticals during the 4th quarter valued at about $99,000. Finally, Nuveen LLC bought a new position in Fennec Pharmaceuticals during the 1st quarter valued at about $158,000. 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.