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

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report issued on Thursday,RTT News reports. They presently have a $13.00 price objective on the stock, down from their previous price objective of $14.00. Wedbush’s price target suggests a potential upside of 198.17% from the stock’s previous close.

A number of other brokerages have also recently issued reports on FENC. HC Wainwright lowered their target price on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Craig Hallum reduced their price target 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.

Fennec Pharmaceuticals Stock Performance

Shares of FENC stock traded down $0.59 on Thursday, hitting $4.36. 272,556 shares of the stock were exchanged, compared to its average volume of 74,113. The firm’s 50 day moving average is $4.87 and its two-hundred day moving average is $6.17. Fennec Pharmaceuticals has a one year low of $4.09 and a one year high of $11.92. The firm has a market capitalization of $119.55 million, a PE ratio of 109.03 and a beta of 0.27. The company has a current ratio of 8.02, a quick ratio of 7.75 and a debt-to-equity ratio of 9.86.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued 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 business had revenue of $7.26 million for the quarter, compared to the consensus estimate of $13.67 million. During the same quarter in the prior year, the business earned ($0.21) EPS. Sell-side analysts expect that Fennec Pharmaceuticals will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FENC. Acadian Asset Management LLC bought a new position in shares of Fennec Pharmaceuticals in the second quarter worth $49,000. The Manufacturers Life Insurance Company purchased a new position in Fennec Pharmaceuticals during the second quarter worth about $69,000. Rhumbline Advisers grew its position in Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after buying an additional 8,987 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Fennec Pharmaceuticals by 67.7% in 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 last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Fennec Pharmaceuticals by 71,275.0% in the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after acquiring an additional 34,212 shares in the last quarter. 55.51% of the stock is 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.