Jeffrey S. Hackman Acquires 13,965 Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) Stock

Fennec Pharmaceuticals Inc (NASDAQ:FENC) CEO Jeffrey S. Hackman acquired 13,965 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were purchased at an average cost of $6.99 per share, for a total transaction of $97,615.35. Following the purchase, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $104,850. This trade represents a 1,349.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fennec Pharmaceuticals Stock Performance

Fennec Pharmaceuticals stock opened at $8.17 on Wednesday. The company’s fifty day moving average price is $5.97 and its 200 day moving average price is $5.99. Fennec Pharmaceuticals Inc has a 1 year low of $3.96 and a 1 year high of $8.26. The stock has a market capitalization of $225.65 million, a P/E ratio of -81.69 and a beta of 0.32.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. The firm had revenue of $8.51 million for the quarter, compared to analysts’ expectations of $8.18 million. During the same quarter last year, the company earned $0.41 EPS. Sell-side analysts predict that Fennec Pharmaceuticals Inc will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in Fennec Pharmaceuticals during the 1st quarter worth $66,000. Intech Investment Management LLC acquired a new stake in Fennec Pharmaceuticals during the 4th quarter worth $69,000. Wells Fargo & Company MN boosted its stake in Fennec Pharmaceuticals by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock worth $83,000 after purchasing an additional 3,155 shares during the last quarter. Jane Street Group LLC acquired a new stake in Fennec Pharmaceuticals during the 1st quarter worth $90,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Fennec Pharmaceuticals during the 4th quarter worth $97,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FENC shares. Craig Hallum lifted their price target on shares of Fennec Pharmaceuticals from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, March 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Tuesday.

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.