Fennec Pharmaceuticals Inc (NASDAQ:FENC) Receives $15.25 Average PT from Analysts

Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) have received a consensus recommendation of “Buy” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.33.

A number of equities analysts have commented on FENC shares. Craig Hallum started coverage on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 21st. They set a “buy” rating and a $17.00 target price on the stock. Wedbush reaffirmed an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, March 17th. HC Wainwright reduced their target price on shares of Fennec Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, June 3rd. Zacks Investment Research downgraded shares of Fennec Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 18th. Finally, Maxim Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Fennec Pharmaceuticals in a research note on Friday, May 28th.

Shares of NASDAQ:FENC traded down $0.17 during midday trading on Thursday, hitting $6.88. The company’s stock had a trading volume of 89,824 shares, compared to its average volume of 107,646. The business’s 50 day moving average is $6.59. The stock has a market cap of $178.90 million, a P/E ratio of -9.05 and a beta of 0.09. Fennec Pharmaceuticals has a 12-month low of $4.80 and a 12-month high of $10.67.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Thursday, May 13th. The company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. On average, analysts anticipate that Fennec Pharmaceuticals will post 0.49 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its stake in shares of Fennec Pharmaceuticals by 302.8% in the 4th quarter. Citigroup Inc. now owns 4,141 shares of the company’s stock valued at $30,000 after acquiring an additional 3,113 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Fennec Pharmaceuticals by 21.3% in the 4th quarter. JPMorgan Chase & Co. now owns 9,670 shares of the company’s stock valued at $72,000 after acquiring an additional 1,699 shares during the period. Virtu Financial LLC purchased a new stake in shares of Fennec Pharmaceuticals in the 1st quarter valued at approximately $74,000. The Manufacturers Life Insurance Company raised its stake in shares of Fennec Pharmaceuticals by 14.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 16,665 shares of the company’s stock valued at $151,000 after acquiring an additional 2,132 shares during the period. Finally, Barclays PLC raised its stake in shares of Fennec Pharmaceuticals by 159.0% in the 1st quarter. Barclays PLC now owns 18,194 shares of the company’s stock valued at $113,000 after acquiring an additional 11,170 shares during the period. 55.24% of the stock is currently owned by institutional investors and hedge funds.

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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