Fennec Pharmaceuticals (NASDAQ:FENC) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $13.00 target price on the stock. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.13) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at ($0.39) EPS.

Several other brokerages have also recently issued reports on FENC. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective (down from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.

Fennec Pharmaceuticals Trading Up 3.2 %

Shares of Fennec Pharmaceuticals stock opened at $5.84 on Tuesday. The company has a 50-day moving average of $5.09 and a two-hundred day moving average of $5.59. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.92. The company has a current ratio of 7.80, a quick ratio of 7.64 and a debt-to-equity ratio of 9.86. The stock has a market cap of $160.42 million, a PE ratio of -58.39 and a beta of 0.35.

Insider Transactions at Fennec Pharmaceuticals

In related news, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.14, for a total transaction of $39,351.26. Following the completion of the sale, the director now owns 52,214 shares in the company, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 13,473 shares of company stock valued at $73,015 over the last three months. 10.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Fennec Pharmaceuticals by 18.7% in the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after buying an additional 2,330 shares during the last quarter. Barclays PLC raised its holdings in Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after acquiring an additional 22,951 shares during the last quarter. State Street Corp lifted its stake in shares of Fennec Pharmaceuticals by 2.2% during the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock worth $1,641,000 after purchasing an additional 7,053 shares during the period. Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals during the third quarter worth $264,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Fennec Pharmaceuticals in the second quarter valued at $69,000. 55.51% of the stock is owned by institutional investors and hedge funds.

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.