Fennec Pharmaceuticals (NASDAQ:FENC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENC) from a hold rating to a buy rating in a research note published on Friday morning, Zacks.com reports. The firm currently has $5.75 price objective on the stock.

According to Zacks, “Fennec Pharmaceuticals Inc. is a clinical-stage biotechnology company. It is focused on the development of Sodium Thiosulfate for the prevention of ototoxicity from cisplatin in pediatric patients. The Company’s products include Eniluracil and Sodium Thiosulfate (STS). Fennec Pharmaceuticals Inc., formerly known as Adherex Technologies Inc., is based in United States. “

Separately, ValuEngine upgraded shares of Fennec Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, October 2nd.

NASDAQ FENC traded down $0.04 during trading on Friday, hitting $5.15. The company had a trading volume of 5 shares, compared to its average volume of 26,027. Fennec Pharmaceuticals has a one year low of $3.26 and a one year high of $7.65. The company has a market cap of $105.36 million, a price-to-earnings ratio of -10.30 and a beta of 0.14. The company’s fifty day moving average is $4.86 and its 200-day moving average is $4.38.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.11. As a group, equities research analysts expect that Fennec Pharmaceuticals will post -0.67 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Wedbush Securities Inc. bought a new position in shares of Fennec Pharmaceuticals in the 3rd quarter worth about $57,000. Hartford Financial Management Inc. increased its stake in shares of Fennec Pharmaceuticals by 65.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 20,300 shares of the company’s stock worth $81,000 after acquiring an additional 8,000 shares in the last quarter. Atria Investments LLC bought a new position in shares of Fennec Pharmaceuticals in the 2nd quarter worth about $215,000. Paloma Partners Management Co bought a new position in shares of Fennec Pharmaceuticals in the 2nd quarter worth about $218,000. Finally, United Services Automobile Association increased its stake in shares of Fennec Pharmaceuticals by 32.1% in the 2nd quarter. United Services Automobile Association now owns 229,983 shares of the company’s stock worth $920,000 after acquiring an additional 55,933 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

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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