Acadian Asset Management LLC Takes $49,000 Position in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

Acadian Asset Management LLC acquired a new position in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,086 shares of the company’s stock, valued at approximately $49,000.

Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after acquiring an additional 8,987 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares during the period. Gendell Jeffrey L grew its position in Fennec Pharmaceuticals by 7.1% during the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock valued at $3,364,000 after purchasing an additional 20,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Fennec Pharmaceuticals by 71,275.0% in the 1st quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after buying an additional 34,212 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new stake in Fennec Pharmaceuticals in the 1st quarter worth approximately $1,604,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Craig Hallum lowered their price target on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. HC Wainwright lowered their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price target (down from $16.00) on shares of Fennec Pharmaceuticals in a research note on Tuesday, August 13th.

Fennec Pharmaceuticals Stock Performance

Shares of FENC opened at $5.24 on Friday. The firm has a market cap of $143.20 million, a price-to-earnings ratio of 174.67 and a beta of 0.26. The company’s fifty day moving average is $5.82 and its 200-day moving average is $7.53. The company has a quick ratio of 7.75, a current ratio of 8.02 and a debt-to-equity ratio of 9.86. Fennec Pharmaceuticals Inc has a 12 month low of $5.00 and a 12 month high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.26). Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. The business had revenue of $7.26 million for the quarter, compared to analyst estimates of $13.67 million. During the same period in the previous year, the company earned ($0.21) earnings per share. Equities analysts expect that Fennec Pharmaceuticals Inc will post 0.27 EPS for the current fiscal year.

Fennec Pharmaceuticals 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.