Fennec Pharmaceuticals (NASDAQ:FENC) Lifted to Buy at Zacks Investment Research

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage currently has a $6.50 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.07% from the company’s current price.

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 reissued an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fennec Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $11.13.

NASDAQ:FENC remained flat at $$5.80 on Friday. The company’s stock had a trading volume of 13,505 shares, compared to its average volume of 42,334. The company has a market cap of $151.03 million, a P/E ratio of -9.21 and a beta of -0.07. Fennec Pharmaceuticals has a 1-year low of $3.16 and a 1-year high of $6.55. The company’s 50 day moving average price is $5.88 and its two-hundred day moving average price is $5.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 8.96 and a current ratio of 8.96.

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). As a group, analysts anticipate that Fennec Pharmaceuticals will post -0.35 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of FENC. Bank of America Corp DE increased its position 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 purchased a new stake in Fennec Pharmaceuticals in the third quarter worth $57,000. Citadel Advisors LLC increased 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 buying an additional 31,574 shares during the last quarter. JPMorgan Chase & Co. increased its position in Fennec Pharmaceuticals by 23,280.0% in the first quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock worth $91,000 after buying an additional 16,296 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its position in Fennec Pharmaceuticals by 20.8% in the fourth quarter. Hartford Financial Management Inc. now owns 34,848 shares of the company’s stock worth $153,000 after buying an additional 6,000 shares during the last quarter. 43.62% of the stock is owned by institutional investors.

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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Analyst Recommendations for Fennec Pharmaceuticals (NASDAQ:FENC)

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