Fennec Pharmaceuticals (NASDAQ:FENC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. The firm currently has $6.00 target price 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 report on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $11.00.

Shares of FENC traded up $0.22 during mid-day trading on Friday, reaching $5.52. The company had a trading volume of 22,313 shares, compared to its average volume of 33,715. Fennec Pharmaceuticals has a 52-week low of $3.04 and a 52-week 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 stock has a 50 day moving average of $5.81 and a two-hundred day moving average of $5.78.

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). On average, sell-side analysts predict that Fennec Pharmaceuticals will post -0.42 EPS for the current year.

Several institutional investors have recently made changes to their positions in FENC. Bank of America Corp DE raised its holdings in shares of Fennec Pharmaceuticals by 134.8% during the fourth quarter. Bank of America Corp DE now owns 11,383 shares of the company’s stock valued at $51,000 after acquiring an additional 6,536 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of Fennec Pharmaceuticals during the third quarter valued at approximately $57,000. Citadel Advisors LLC raised its holdings in shares of Fennec Pharmaceuticals by 189.1% during the fourth quarter. Citadel Advisors LLC now owns 14,874 shares of the company’s stock valued at $65,000 after acquiring an additional 31,574 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Fennec Pharmaceuticals by 23,280.0% during the first quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock valued at $91,000 after acquiring an additional 16,296 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its holdings in shares of Fennec Pharmaceuticals by 20.8% during the fourth quarter. Hartford Financial Management Inc. now owns 34,848 shares of the company’s stock valued at $153,000 after acquiring an additional 6,000 shares during the last quarter. 43.62% of the stock is owned by institutional investors and hedge funds.

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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