Zacks: Brokerages Anticipate Fennec Pharmaceuticals Inc (NASDAQ:FENC) to Post -$0.14 Earnings Per Share

Equities research analysts expect that Fennec Pharmaceuticals Inc (NASDAQ:FENCGet Rating) will report ($0.14) earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Fennec Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.17). Fennec Pharmaceuticals reported earnings of ($0.15) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The firm is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Fennec Pharmaceuticals will report full year earnings of ($0.35) per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of $0.26 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Fennec Pharmaceuticals.

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 the consensus estimate of ($0.14).

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Fennec Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Friday, May 20th. Wedbush reissued an “outperform” rating on shares of Fennec Pharmaceuticals in a report on Wednesday, April 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Fennec Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $11.13.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Fennec Pharmaceuticals by 6.0% during the 2nd quarter. Morgan Stanley now owns 43,430 shares of the company’s stock worth $316,000 after acquiring an additional 2,453 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. Harbert Fund Advisors Inc. grew its holdings in Fennec Pharmaceuticals by 44.6% during the third 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 period. Ancora Advisors LLC purchased a new stake in shares of Fennec Pharmaceuticals during the third quarter worth $57,000. Finally, Hartford Financial Management Inc. raised its position in 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 purchasing an additional 6,000 shares in the last quarter. 43.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:FENC opened at $5.58 on Wednesday. The company has a current ratio of 8.96, a quick ratio of 8.96 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $145.30 million, a P/E ratio of -8.86 and a beta of -0.07. Fennec Pharmaceuticals has a 12-month low of $3.16 and a 12-month high of $6.55. The stock’s 50-day moving average price is $5.89 and its 200-day moving average price is $5.62.

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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Earnings History and Estimates for Fennec Pharmaceuticals (NASDAQ:FENC)

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