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

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.13.

FENC stock traded up $0.04 during trading on Monday, hitting $5.82. The stock had a trading volume of 739 shares, compared to its average volume of 41,306. The company’s 50 day moving average price is $5.90 and its two-hundred day moving average price is $5.49. Fennec Pharmaceuticals has a 1-year low of $3.16 and a 1-year high of $6.55. The stock has a market cap of $151.55 million, a price-to-earnings ratio of -9.24 and a beta of -0.07. 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 posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). As a group, sell-side analysts forecast that Fennec Pharmaceuticals will post -0.35 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of FENC. Geode Capital Management LLC grew its position in shares of Fennec Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 19,909 shares of the company’s stock worth $187,000 after buying an additional 1,983 shares in the last quarter. Morgan Stanley grew its position in shares of Fennec Pharmaceuticals by 6.0% during the second quarter. Morgan Stanley now owns 43,430 shares of the company’s stock worth $316,000 after buying an additional 2,453 shares in the last quarter. Hartford Financial Management Inc. grew its position 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 worth $153,000 after buying an additional 6,000 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Fennec Pharmaceuticals during the third quarter worth approximately $57,000. Finally, Bank of America Corp DE lifted its stake in Fennec Pharmaceuticals by 134.8% during the fourth quarter. Bank of America Corp DE now owns 11,383 shares of the company’s stock worth $51,000 after purchasing an additional 6,536 shares during the last quarter. Institutional investors and hedge funds own 43.62% of the company’s stock.

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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