Fennec Pharmaceuticals Inc (NASDAQ:FENC) has been given a consensus rating of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $16.50.
FENC has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $16.00 price objective on shares of Fennec Pharmaceuticals in a report on Friday, May 10th. HC Wainwright set a $17.00 price target on Fennec Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Zacks Investment Research downgraded Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, May 31st.
A number of hedge funds have recently bought and sold shares of FENC. Weiss Multi Strategy Advisers LLC purchased a new position in Fennec Pharmaceuticals in the 4th quarter worth approximately $160,000. venBio Select Advisor LLC raised its holdings in Fennec Pharmaceuticals by 8.1% in the 4th quarter. venBio Select Advisor LLC now owns 1,105,999 shares of the company’s stock worth $7,056,000 after acquiring an additional 83,333 shares during the last quarter. Geode Capital Management LLC grew its position in Fennec Pharmaceuticals by 16.0% in the 4th quarter. Geode Capital Management LLC now owns 39,489 shares of the company’s stock worth $251,000 after purchasing an additional 5,441 shares during the period. United Services Automobile Association grew its position in Fennec Pharmaceuticals by 87.4% in the 4th quarter. United Services Automobile Association now owns 154,190 shares of the company’s stock worth $984,000 after purchasing an additional 71,922 shares during the period. Finally, BlackRock Inc. grew its position in Fennec Pharmaceuticals by 0.4% in the 4th quarter. BlackRock Inc. now owns 562,216 shares of the company’s stock worth $3,588,000 after purchasing an additional 2,429 shares during the period. Hedge funds and other institutional investors own 48.46% of the company’s stock.
Shares of NASDAQ:FENC traded down $0.03 during mid-day trading on Tuesday, reaching $3.88. 34,200 shares of the stock were exchanged, compared to its average volume of 62,653. The company has a market capitalization of $77.81 million, a P/E ratio of -7.76 and a beta of -0.24. Fennec Pharmaceuticals has a one year low of $3.26 and a one year high of $11.00. The business’s 50 day moving average price is $3.93.
Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. As a group, equities research analysts predict that Fennec Pharmaceuticals will post -0.59 earnings per share for the current fiscal year.
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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