Q3 2024 EPS Estimates for Fennec Pharmaceuticals Inc Decreased by Wedbush (NASDAQ:FENC)

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Equities researchers at Wedbush decreased their Q3 2024 earnings per share estimates for shares of Fennec Pharmaceuticals in a research note issued to investors on Tuesday, August 13th. Wedbush analyst D. Nierengarten now expects that the company will post earnings of ($0.12) per share for the quarter, down from their previous estimate of $0.02. Wedbush has a “Outperform” rating and a $14.00 price objective on the stock. The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is $0.36 per share. Wedbush also issued estimates for Fennec Pharmaceuticals’ 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 and FY2025 earnings at $0.06 EPS.

A number of other analysts have also recently commented on the company. HC Wainwright dropped their price target on Fennec Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Craig Hallum lowered their price objective on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday.

Fennec Pharmaceuticals Stock Performance

Shares of FENC opened at $5.56 on Thursday. The company has a quick ratio of 6.72, a current ratio of 6.93 and a debt-to-equity ratio of 9.86. The business’s 50 day moving average price is $6.30 and its 200-day moving average price is $8.28. Fennec Pharmaceuticals has a 52 week low of $5.26 and a 52 week high of $11.92. The stock has a market cap of $151.94 million, a P/E ratio of 185.33 and a beta of 0.29.

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

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FENC. Eudaimonia Advisors LLC raised its stake in Fennec Pharmaceuticals by 90.8% during the 4th quarter. Eudaimonia Advisors LLC now owns 32,686 shares of the company’s stock valued at $367,000 after buying an additional 15,556 shares during the last quarter. Jump Financial LLC purchased a new stake in Fennec Pharmaceuticals during the 4th quarter valued at $158,000. Worth Venture Partners LLC raised its stake in Fennec Pharmaceuticals by 52.7% during the 4th quarter. Worth Venture Partners LLC now owns 141,500 shares of the company’s stock valued at $1,588,000 after buying an additional 48,864 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Fennec Pharmaceuticals by 107.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock valued at $34,000 after buying an additional 1,578 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Fennec Pharmaceuticals by 67.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after buying an additional 13,223 shares during the last quarter. 55.51% of the stock is owned by 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.