Fennec Pharmaceuticals (NASDAQ:FENC) Rating Increased to Strong-Buy at Stephens

Stephens upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENC) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Wedbush reiterated an “outperform” rating and issued a $13.00 target price (down from $14.00) on shares of Fennec Pharmaceuticals in a report on Thursday, November 7th. Craig Hallum decreased their price objective on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Finally, HC Wainwright cut their target price on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Fennec Pharmaceuticals Trading Up 8.5 %

Shares of NASDAQ FENC opened at $4.64 on Monday. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. Fennec Pharmaceuticals has a 12 month low of $3.96 and a 12 month high of $11.92. The company has a market cap of $127.28 million, a price-to-earnings ratio of -47.60 and a beta of 0.27. The business has a fifty day simple moving average of $4.68 and a 200-day simple moving average of $5.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FENC. BNP Paribas Financial Markets lifted its holdings in shares of Fennec Pharmaceuticals by 67.7% during the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after buying an additional 13,223 shares during the last quarter. Russell Investments Group Ltd. grew its position in Fennec Pharmaceuticals by 71,275.0% in the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after acquiring an additional 34,212 shares in the last quarter. Gendell Jeffrey L increased its stake in shares of Fennec Pharmaceuticals by 7.1% during the 1st quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock worth $3,364,000 after purchasing an additional 20,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Fennec Pharmaceuticals by 42.8% during the 2nd 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 last quarter. Finally, Rhumbline Advisers raised its holdings in shares of 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 purchasing an additional 8,987 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.