Fennec Pharmaceuticals (NASDAQ:FENC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report published on Thursday morning, AnalystRatings.com reports.

A number of other research firms also recently weighed in on FENC. Maxim Group restated a buy rating and issued a $12.00 target price on shares of Fennec Pharmaceuticals in a research report on Friday, May 28th. Wedbush restated an outperform rating on shares of Fennec Pharmaceuticals in a research report on Wednesday, March 17th. Zacks Investment Research downgraded Fennec Pharmaceuticals from a hold rating to a strong sell rating in a research report on Tuesday, May 18th. Finally, Craig Hallum assumed coverage on Fennec Pharmaceuticals in a research report on Wednesday, April 21st. They issued a buy rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Fennec Pharmaceuticals presently has a consensus rating of Buy and an average price target of $13.50.

Shares of FENC opened at $7.29 on Thursday. The firm’s 50-day simple moving average is $6.68. Fennec Pharmaceuticals has a 12-month low of $4.80 and a 12-month high of $10.67.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its earnings results on Thursday, May 13th. The company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.03. On average, sell-side analysts forecast that Fennec Pharmaceuticals will post 0.49 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in FENC. UBS Group AG increased its stake in Fennec Pharmaceuticals by 1,042.8% in the 1st quarter. UBS Group AG now owns 40,569 shares of the company’s stock worth $252,000 after purchasing an additional 37,019 shares during the period. GSA Capital Partners LLP purchased a new position in Fennec Pharmaceuticals in the 1st quarter worth approximately $226,000. BlackRock Inc. increased its stake in Fennec Pharmaceuticals by 3.0% in the 4th quarter. BlackRock Inc. now owns 1,107,204 shares of the company’s stock worth $8,249,000 after purchasing an additional 32,171 shares during the period. JPMorgan Chase & Co. increased its stake in Fennec Pharmaceuticals by 137.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,914 shares of the company’s stock worth $142,000 after purchasing an additional 13,244 shares during the period. Finally, Virtu Financial LLC purchased a new position in Fennec Pharmaceuticals in the 1st quarter worth approximately $74,000. 55.24% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: What are gap-up stocks?

Receive News & Ratings for Fennec Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fennec Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.