Equities Analysts Issue Forecasts for FENC Q3 Earnings

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Capital One Financial raised their Q3 2024 EPS estimates for Fennec Pharmaceuticals in a report issued on Wednesday, October 16th. Capital One Financial analyst N. Quibria now anticipates that the company will post earnings per share of ($0.16) for the quarter, up from their prior forecast of ($0.18). The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is ($0.07) per share. Capital One Financial also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.13) EPS and FY2024 earnings at ($0.02) EPS.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.26 million for the quarter, compared to analysts’ expectations of $13.67 million. During the same period in the prior year, the business earned ($0.21) EPS.

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

Fennec Pharmaceuticals Price Performance

FENC opened at $4.54 on Monday. The company has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $6.60. The firm has a market cap of $124.07 million, a price-to-earnings ratio of 151.33 and a beta of 0.25. Fennec Pharmaceuticals has a twelve month low of $4.09 and a twelve month high of $11.92. The company has a current ratio of 8.02, a quick ratio of 7.75 and a debt-to-equity ratio of 9.86.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several hedge funds have recently made changes to their positions in FENC. Acadian Asset Management LLC purchased a new position in shares of Fennec Pharmaceuticals in the second quarter worth approximately $49,000. Rhumbline Advisers increased its position in shares of Fennec Pharmaceuticals by 44.7% in the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after acquiring an additional 8,987 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Fennec Pharmaceuticals in the second quarter worth approximately $69,000. BNP Paribas Financial Markets increased its position in shares of Fennec Pharmaceuticals by 67.7% in the first quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock worth $364,000 after acquiring an additional 13,223 shares in the last quarter. Finally, Gendell Jeffrey L increased its position in shares of Fennec Pharmaceuticals by 7.1% in the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock worth $3,364,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 55.51% 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.