Equities researchers at Dawson James started coverage on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report released on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.
FENC has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. HC Wainwright set a $18.00 price target on shares of Fennec Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 14th. Wedbush dropped their price target on shares of Fennec Pharmaceuticals from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, September 17th. Finally, ValuEngine downgraded shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Fennec Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $16.75.
Shares of FENC stock opened at $7.79 on Thursday. The company has a market cap of $155.25 million, a price-to-earnings ratio of -16.64 and a beta of -0.76. Fennec Pharmaceuticals has a 12-month low of $7.17 and a 12-month high of $14.99.
Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings results on Monday, August 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). Sell-side analysts anticipate that Fennec Pharmaceuticals will post -0.5 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opaleye Management Inc. raised its position in shares of Fennec Pharmaceuticals by 8.2% in the second quarter. Opaleye Management Inc. now owns 945,000 shares of the company’s stock valued at $9,865,000 after buying an additional 72,000 shares in the last quarter. BlackRock Inc. acquired a new position in Fennec Pharmaceuticals during the second quarter valued at approximately $5,795,000. Northern Trust Corp acquired a new position in Fennec Pharmaceuticals during the second quarter valued at approximately $1,058,000. Granahan Investment Management Inc. MA raised its position in Fennec Pharmaceuticals by 20.3% during the second quarter. Granahan Investment Management Inc. MA now owns 57,002 shares of the company’s stock valued at $595,000 after purchasing an additional 9,626 shares in the last quarter. Finally, United Services Automobile Association raised its position in Fennec Pharmaceuticals by 20.7% during the second quarter. United Services Automobile Association now owns 55,348 shares of the company’s stock valued at $578,000 after purchasing an additional 9,500 shares in the last quarter. Institutional investors own 49.78% 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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