Fennec Pharmaceuticals (NASDAQ:FENC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) from a strong sell rating to a buy rating in a research note issued to investors on Monday morning, Zacks.com reports. They currently have $6.50 price target on the stock.

According to Zacks, “Fennec Pharmaceuticals Inc. is a clinical-stage biotechnology company. It is focused on the development of Sodium Thiosulfate for the prevention of ototoxicity from cisplatin in pediatric patients. The Company’s products include Eniluracil and Sodium Thiosulfate (STS). Fennec Pharmaceuticals Inc., formerly known as Adherex Technologies Inc., is based in United States. “

Separately, Wedbush reaffirmed an outperform rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Fennec Pharmaceuticals has an average rating of Buy and an average price target of $11.13.

Shares of NASDAQ FENC opened at $6.15 on Monday. The stock has a market cap of $159.99 million, a price-to-earnings ratio of -9.18 and a beta of -0.08. Fennec Pharmaceuticals has a one year low of $2.90 and a one year high of $6.55. The stock’s fifty day moving average is $5.75. The company has a quick ratio of 13.54, a current ratio of 13.53 and a debt-to-equity ratio of 0.32.

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) last issued its earnings results on Monday, February 28th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $3.52 by ($3.70). As a group, equities research analysts forecast that Fennec Pharmaceuticals will post -0.42 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC raised its stake in Fennec Pharmaceuticals by 189.1% in the 4th quarter. Citadel Advisors LLC now owns 14,874 shares of the company’s stock valued at $65,000 after purchasing an additional 31,574 shares during the last quarter. Bank of America Corp DE raised its stake in Fennec Pharmaceuticals by 134.8% in the 4th quarter. Bank of America Corp DE now owns 11,383 shares of the company’s stock valued at $51,000 after purchasing an additional 6,536 shares during the last quarter. Hartford Financial Management Inc. raised its stake in Fennec Pharmaceuticals by 20.8% in the 4th quarter. Hartford Financial Management Inc. now owns 34,848 shares of the company’s stock valued at $153,000 after purchasing an additional 6,000 shares during the last quarter. Ancora Advisors LLC acquired a new position in Fennec Pharmaceuticals in the 3rd quarter valued at about $57,000. Finally, Harbert Fund Advisors Inc. raised its stake in Fennec Pharmaceuticals by 44.6% in the 3rd quarter. Harbert Fund Advisors Inc. now owns 174,750 shares of the company’s stock valued at $1,646,000 after purchasing an additional 53,899 shares during the last quarter. 43.62% of the stock is owned by institutional investors and hedge funds.

Fennec Pharmaceuticals Company Profile (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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