Fennec Pharmaceuticals Inc to Post FY2023 Earnings of ($0.55) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:FENC)

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Cantor Fitzgerald boosted their FY2023 earnings per share estimates for Fennec Pharmaceuticals in a report released on Tuesday, November 7th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of ($0.55) for the year, up from their previous estimate of ($0.58). The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is ($0.59) per share. Cantor Fitzgerald also issued estimates for Fennec Pharmaceuticals’ FY2024 earnings at $0.11 EPS.

Separately, HC Wainwright decreased their price objective on Fennec Pharmaceuticals from $18.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 4th.

Fennec Pharmaceuticals Stock Performance

FENC stock opened at $7.75 on Thursday. The company has a market capitalization of $206.38 million, a P/E ratio of -10.06 and a beta of 0.23. The company has a fifty day moving average price of $7.32 and a 200-day moving average price of $7.98. Fennec Pharmaceuticals has a 52-week low of $6.30 and a 52-week high of $10.85.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Monday, November 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. The business had revenue of $6.52 million for the quarter, compared to analyst estimates of $5.22 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share.

Insider Buying and Selling

In other news, CEO Rosty Raykov sold 25,044 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $7.76, for a total value of $194,341.44. Following the sale, the chief executive officer now directly owns 282,587 shares of the company’s stock, valued at approximately $2,192,875.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FENC. Sonic GP LLC acquired a new stake in Fennec Pharmaceuticals during the fourth quarter worth approximately $23,111,000. Solas Capital Management LLC boosted its holdings in shares of Fennec Pharmaceuticals by 2.6% during the 1st quarter. Solas Capital Management LLC now owns 1,284,543 shares of the company’s stock worth $10,687,000 after buying an additional 32,155 shares in the last quarter. DG Capital Management LLC grew its position in shares of Fennec Pharmaceuticals by 22.3% during the 1st quarter. DG Capital Management LLC now owns 1,250,096 shares of the company’s stock worth $10,401,000 after buying an additional 228,144 shares during the period. BlackRock Inc. increased its stake in shares of Fennec Pharmaceuticals by 1,507.6% in the 2nd quarter. BlackRock Inc. now owns 830,119 shares of the company’s stock valued at $7,330,000 after acquiring an additional 778,481 shares in the last quarter. Finally, Harbert Fund Advisors Inc. increased its stake in shares of Fennec Pharmaceuticals by 47.3% in the 1st quarter. Harbert Fund Advisors Inc. now owns 466,869 shares of the company’s stock valued at $3,884,000 after acquiring an additional 149,920 shares in the last quarter. 53.06% of the stock is owned by institutional investors.

Fennec Pharmaceuticals Company Profile

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.