Fennec Pharmaceuticals (NASDAQ:FENC) Price Target Raised to $13.00

Fennec Pharmaceuticals (NASDAQ:FENC) had its target price upped by Craig Hallum from $12.00 to $13.00 in a report released on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

FENC has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a report on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a report on Monday, March 10th.

Fennec Pharmaceuticals Stock Up 4.4%

Shares of FENC opened at $6.84 on Wednesday. The company has a market cap of $188.74 million, a price-to-earnings ratio of -68.39 and a beta of 0.32. Fennec Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $7.64. The company has a 50 day moving average of $5.91 and a two-hundred day moving average of $5.93.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. The business had revenue of $8.51 million during the quarter, compared to the consensus estimate of $8.18 million. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts expect that Fennec Pharmaceuticals will post -0.11 EPS for the current year.

Insider Transactions at Fennec Pharmaceuticals

In related news, Director Rosty Raykov sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $5.25, for a total transaction of $52,500.00. Following the sale, the director now directly owns 61,156 shares of the company’s stock, valued at $321,069. This represents a 14.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 30,000 shares of company stock worth $183,500. 11.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after purchasing an additional 22,951 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Fennec Pharmaceuticals by 12.9% in the 4th quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock worth $217,000 after acquiring an additional 3,911 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Fennec Pharmaceuticals by 10.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,146 shares of the company’s stock valued at $386,000 after purchasing an additional 5,694 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in shares of Fennec Pharmaceuticals in the 4th quarter valued at about $7,962,000. Finally, Clayton Partners LLC purchased a new position in Fennec Pharmaceuticals during the 4th quarter valued at about $256,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.