Equities Analysts Offer Predictions for FENC FY2024 Earnings

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Investment analysts at HC Wainwright decreased their FY2024 earnings estimates for shares of Fennec Pharmaceuticals in a research note issued to investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.13) for the year, down from their previous forecast of $0.08. HC Wainwright currently has a “Buy” rating and a $13.00 target price on the stock. The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.19) 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 equities research analysts also recently issued reports on the company. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Friday.

Fennec Pharmaceuticals Stock Performance

NASDAQ:FENC opened at $5.99 on Thursday. The company has a market capitalization of $164.55 million, a P/E ratio of -59.89 and a beta of 0.35. The business has a fifty day simple moving average of $5.12 and a two-hundred day simple moving average of $5.58. The company has a debt-to-equity ratio of 9.86, a current ratio of 7.80 and a quick ratio of 7.64. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.92.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several institutional investors have recently modified their holdings of FENC. WINTON GROUP Ltd bought a new stake in Fennec Pharmaceuticals in the 2nd quarter worth approximately $409,000. Advantage Alpha Capital Partners LP purchased a new position in shares of Fennec Pharmaceuticals during the third quarter worth approximately $264,000. Barclays PLC lifted its holdings in shares of Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after acquiring an additional 22,951 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Fennec Pharmaceuticals by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock valued at $420,000 after purchasing an additional 20,602 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter valued at $69,000. 55.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of the firm’s 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 sale, the director now owns 52,214 shares in the company, valued at $320,593.96. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 13,473 shares of company stock worth $73,015. Corporate insiders own 10.98% 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.