Wedbush restated their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC – Get Rating) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage currently has a $11.00 price objective on the stock.
Other equities analysts have also recently issued reports about the stock. Craig Hallum reaffirmed a buy rating and set a $14.00 price target on shares of Fennec Pharmaceuticals in a research note on Monday, August 8th. Capital One Financial started coverage on shares of Fennec Pharmaceuticals in a research note on Wednesday, September 7th. They set an overweight rating and a $11.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Fennec Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus price target of $11.50.
Fennec Pharmaceuticals Price Performance
NASDAQ FENC opened at $8.54 on Wednesday. The business has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $6.16. Fennec Pharmaceuticals has a 52-week low of $3.82 and a 52-week high of $8.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.12 and a current ratio of 5.12. The stock has a market cap of $222.71 million, a price-to-earnings ratio of -12.75 and a beta of 0.09.
Institutional Investors Weigh In On Fennec Pharmaceuticals
A hedge fund recently raised its stake in Fennec Pharmaceuticals stock. JPMorgan Chase & Co. increased its stake in Fennec Pharmaceuticals Inc (NASDAQ:FENC – Get Rating) by 23,280.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,366 shares of the company’s stock after buying an additional 16,296 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.06% of Fennec Pharmaceuticals worth $91,000 as of its most recent SEC filing. Institutional investors and hedge funds own 43.29% of the company’s stock.
About Fennec Pharmaceuticals
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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