Fennec Pharmaceuticals (NASDAQ:FENC) Earns Buy Rating from HC Wainwright

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $13.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 56.82% from the company’s current price. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ FY2026 earnings at $0.66 EPS.

A number of other brokerages also recently issued reports on FENC. Craig Hallum boosted their price target on Fennec Pharmaceuticals from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a research note on Monday, March 10th.

Fennec Pharmaceuticals Stock Up 1.5%

NASDAQ:FENC opened at $8.29 on Tuesday. The firm has a market capitalization of $228.96 million, a P/E ratio of -82.89 and a beta of 0.32. The company has a fifty day moving average of $6.01 and a 200 day moving average of $6.00. Fennec Pharmaceuticals has a 52 week low of $3.96 and a 52 week high of $8.41.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The firm had revenue of $8.51 million for the quarter, compared to analysts’ expectations of $8.18 million. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. During the same quarter in the previous year, the company earned $0.41 earnings per share. As a group, analysts anticipate that Fennec Pharmaceuticals will post -0.11 EPS for the current year.

Insider Activity at Fennec Pharmaceuticals

In related news, Director Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $6.79, for a total transaction of $67,900.00. Following the sale, the director now directly owns 68,725 shares in the company, valued at $466,642.75. The trade was a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey S. Hackman purchased 13,965 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average cost of $6.99 per share, for a total transaction of $97,615.35. Following the completion of the purchase, the chief executive officer now owns 15,000 shares of the company’s stock, valued at $104,850. This trade represents a 1,349.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 30,000 shares of company stock worth $183,500 over the last 90 days. 11.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FENC. Rosalind Advisors Inc. purchased a new stake in Fennec Pharmaceuticals in the fourth quarter worth about $7,962,000. AIGH Capital Management LLC bought a new stake in shares of Fennec Pharmaceuticals in the 1st quarter worth approximately $2,199,000. Solas Capital Management LLC grew its stake in shares of Fennec Pharmaceuticals by 17.0% in the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock worth $14,226,000 after buying an additional 327,383 shares during the last quarter. Clayton Partners LLC bought a new position in Fennec Pharmaceuticals during the 4th quarter valued at approximately $256,000. Finally, Nuveen LLC bought a new position in Fennec Pharmaceuticals during the 1st quarter valued at approximately $158,000. 55.51% of the stock is currently owned by 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.