HC Wainwright Reaffirms Buy Rating for Fennec Pharmaceuticals (NASDAQ:FENC)

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $13.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 129.68% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Stock Performance

FENC opened at $5.66 on Tuesday. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The stock’s 50 day moving average price is $5.05 and its two-hundred day moving average price is $5.59. The firm has a market capitalization of $155.48 million, a P/E ratio of -56.59 and a beta of 0.35. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.92.

Insider Buying and Selling at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total transaction of $39,351.26. Following the completion of the transaction, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 13,473 shares of company stock valued at $73,015. 10.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FENC. Bank of New York Mellon Corp grew its position in 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 last quarter. Rhumbline Advisers boosted its stake in Fennec Pharmaceuticals by 44.7% in the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after purchasing an additional 8,987 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Fennec Pharmaceuticals during the second quarter worth $49,000. WINTON GROUP Ltd acquired a new stake in shares of Fennec Pharmaceuticals in the second quarter valued at $409,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals in the second quarter valued at about $69,000. Institutional investors own 55.51% of the company’s stock.

About Fennec Pharmaceuticals

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.