Fennec Pharmaceuticals (NASDAQ:FENC) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Fennec Pharmaceuticals (NASDAQ:FENC) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

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. “

Other analysts also recently issued reports about the company. HC Wainwright set a $55.00 target price on Acer Therapeutics and gave the company a buy rating in a report on Tuesday, May 28th. Wedbush set a $38.00 target price on Obseva and gave the company a buy rating in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Fennec Pharmaceuticals presently has an average rating of Buy and an average target price of $12.50.

Fennec Pharmaceuticals stock opened at $4.25 on Thursday. Fennec Pharmaceuticals has a fifty-two week low of $3.26 and a fifty-two week high of $10.61. The firm has a 50-day moving average price of $3.88.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. As a group, analysts anticipate that Fennec Pharmaceuticals will post -0.59 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. venBio Select Advisor LLC raised its stake in Fennec Pharmaceuticals by 8.1% during the 4th quarter. venBio Select Advisor LLC now owns 1,105,999 shares of the company’s stock valued at $7,056,000 after acquiring an additional 83,333 shares during the last quarter. United Services Automobile Association raised its stake in Fennec Pharmaceuticals by 87.4% during the 4th quarter. United Services Automobile Association now owns 154,190 shares of the company’s stock valued at $984,000 after acquiring an additional 71,922 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new stake in Fennec Pharmaceuticals during the 4th quarter valued at approximately $160,000. Rhumbline Advisers purchased a new stake in Fennec Pharmaceuticals during the 4th quarter valued at approximately $87,000. Finally, Geode Capital Management LLC raised its stake in Fennec Pharmaceuticals by 16.0% during the 4th quarter. Geode Capital Management LLC now owns 39,489 shares of the company’s stock valued at $251,000 after acquiring an additional 5,441 shares during the last quarter. 48.46% of the stock is 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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