Fennec Pharmaceuticals Inc (NASDAQ:FENC) Receives $12.00 Average Target Price from Analysts

Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENCGet Rating) have received a consensus rating of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.00.

A number of equities research analysts have recently issued reports on FENC shares. Zacks Investment Research lowered shares of Fennec Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 2nd. Wedbush reiterated an “outperform” rating on shares of Fennec Pharmaceuticals in a report on Wednesday.

Shares of Fennec Pharmaceuticals stock opened at $5.95 on Friday. The firm has a market cap of $154.78 million, a PE ratio of -8.88 and a beta of -0.08. Fennec Pharmaceuticals has a twelve month low of $2.90 and a twelve month high of $6.55. The company has a quick ratio of 13.54, a current ratio of 13.53 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $5.70 and a 200 day moving average price of $6.05.

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) last posted its quarterly earnings data on Sunday, February 27th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.93). On average, sell-side analysts expect that Fennec Pharmaceuticals will post -0.54 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harbert Fund Advisors Inc. raised its stake in Fennec Pharmaceuticals by 44.6% during the third quarter. Harbert Fund Advisors Inc. now owns 174,750 shares of the company’s stock worth $1,646,000 after purchasing an additional 53,899 shares during the period. DG Capital Management LLC increased its holdings in shares of Fennec Pharmaceuticals by 5.0% during the 3rd quarter. DG Capital Management LLC now owns 618,451 shares of the company’s stock worth $5,826,000 after buying an additional 29,678 shares during the last quarter. Morgan Stanley raised its position in shares of Fennec Pharmaceuticals by 6.0% during the 2nd quarter. Morgan Stanley now owns 43,430 shares of the company’s stock valued at $316,000 after buying an additional 2,453 shares during the period. Geode Capital Management LLC lifted its holdings in Fennec Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 19,909 shares of the company’s stock valued at $187,000 after acquiring an additional 1,983 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in Fennec Pharmaceuticals by 189.1% in the fourth quarter. Citadel Advisors LLC now owns 14,874 shares of the company’s stock worth $65,000 after acquiring an additional 31,574 shares during the period. 44.64% of the stock is owned by hedge funds and other institutional investors.

About Fennec Pharmaceuticals (Get Rating)

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.

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