Fennec Pharmaceuticals (NASDAQ:FENC) Earns “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research report released on Tuesday morning, RTT News reports. The firm currently has a $14.00 target price on the stock, down from their prior target price of $16.00. Wedbush also issued estimates for Fennec Pharmaceuticals’ Q3 2024 earnings at ($0.12) EPS, Q4 2024 earnings at $0.28 EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.05 EPS, FY2025 earnings at $0.06 EPS, FY2026 earnings at $2.31 EPS and FY2027 earnings at $2.77 EPS.

Other research analysts have also issued research reports about the stock. Craig Hallum lowered their price objective on shares of Fennec Pharmaceuticals from $20.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, May 15th. HC Wainwright dropped their price target on shares of Fennec Pharmaceuticals from $18.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, May 15th.

Fennec Pharmaceuticals Stock Down 0.4 %

Shares of NASDAQ FENC opened at $5.56 on Tuesday. Fennec Pharmaceuticals has a 52-week low of $5.26 and a 52-week high of $11.92. The business’s 50 day moving average is $6.28 and its two-hundred day moving average is $8.25. The firm has a market cap of $151.94 million, a price-to-earnings ratio of 185.33 and a beta of 0.29. The company has a quick ratio of 6.72, a current ratio of 6.93 and a debt-to-equity ratio of 9.86.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.26). The firm had revenue of $7.26 million for the quarter, compared to analyst estimates of $13.67 million. Fennec Pharmaceuticals had a negative return on equity of 39.41% and a net margin of 6.33%. During the same period in the previous year, the company posted ($0.21) EPS. Research analysts predict that Fennec Pharmaceuticals will post 0.36 EPS for the current year.

Institutional Trading of Fennec Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC purchased a new position in Fennec Pharmaceuticals in the first quarter worth approximately $1,604,000. Eudaimonia Advisors LLC grew its stake in shares of Fennec Pharmaceuticals by 90.8% during the fourth quarter. Eudaimonia Advisors LLC now owns 32,686 shares of the company’s stock worth $367,000 after purchasing an additional 15,556 shares in the last quarter. Jump Financial LLC purchased a new position in Fennec Pharmaceuticals in the fourth quarter valued at $158,000. Russell Investments Group Ltd. raised its stake in Fennec Pharmaceuticals by 71,275.0% in the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after buying an additional 34,212 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 13,223 shares during the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.