HC Wainwright Reaffirms Buy Rating for Fennec Pharmaceuticals (NASDAQ:FENC)

HC Wainwright reaffirmed their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report issued on Tuesday, TipRanks reports. HC Wainwright currently has a $17.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of Fennec Pharmaceuticals from a buy rating to a hold rating in a report on Saturday, February 1st. Zacks Investment Research cut shares of Fennec Pharmaceuticals from a strong-buy rating to a hold rating in a report on Tuesday, January 14th.

Shares of FENC stock traded up $0.30 during trading on Tuesday, hitting $7.85. 591 shares of the company were exchanged, compared to its average volume of 55,121. The firm has a market capitalization of $143.14 million, a price-to-earnings ratio of -12.87 and a beta of 0.10. The business’s 50-day simple moving average is $6.50 and its 200 day simple moving average is $5.38. Fennec Pharmaceuticals has a twelve month low of $3.26 and a twelve month high of $8.40.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.11. On average, equities analysts predict that Fennec Pharmaceuticals will post -0.59 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of FENC. Hartford Financial Management Inc. raised its position in Fennec Pharmaceuticals by 16.7% during the fourth quarter. Hartford Financial Management Inc. now owns 35,000 shares of the company’s stock valued at $227,000 after acquiring an additional 5,000 shares in the last quarter. Wedbush Securities Inc. bought a new position in Fennec Pharmaceuticals during the third quarter valued at approximately $57,000. Goldman Sachs Group Inc. bought a new position in Fennec Pharmaceuticals during the fourth quarter valued at approximately $92,000. Granahan Investment Management Inc. MA raised its position in Fennec Pharmaceuticals by 3.8% during the third quarter. Granahan Investment Management Inc. MA now owns 455,979 shares of the company’s stock valued at $2,193,000 after acquiring an additional 16,896 shares in the last quarter. Finally, Atria Investments LLC bought a new position in Fennec Pharmaceuticals during the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 42.65% 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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