Fennec Pharmaceuticals Inc (NASDAQ:FENC) Receives $15.25 Average Target Price from Analysts

Fennec Pharmaceuticals Inc (NASDAQ:FENC) has been assigned a consensus recommendation of “Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.33.

FENC has been the subject of a number of analyst reports. Maxim Group restated a “buy” rating and set a $12.00 price objective on shares of Fennec Pharmaceuticals in a research report on Friday, May 28th. HC Wainwright lowered their price target on shares of Fennec Pharmaceuticals from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, June 3rd. Wedbush reaffirmed an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, March 17th. Zacks Investment Research cut shares of Fennec Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 18th. Finally, Craig Hallum initiated coverage on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 21st. They set a “buy” rating and a $17.00 price target on the stock.

Fennec Pharmaceuticals stock traded down $0.17 during trading hours on Thursday, reaching $6.88. 89,824 shares of the stock were exchanged, compared to its average volume of 107,646. The stock has a market capitalization of $178.90 million, a PE ratio of -9.05 and a beta of 0.09. Fennec Pharmaceuticals has a 52-week low of $4.80 and a 52-week high of $10.67. The company’s 50 day moving average price is $6.59.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings data on Thursday, May 13th. The company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.03. Research analysts forecast that Fennec Pharmaceuticals will post 0.49 EPS for the current year.

Several large investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in Fennec Pharmaceuticals in the 1st quarter valued at about $226,000. Wells Fargo & Company MN grew its stake in Fennec Pharmaceuticals by 8.1% in the 4th quarter. Wells Fargo & Company MN now owns 54,968 shares of the company’s stock valued at $409,000 after acquiring an additional 4,122 shares during the last quarter. Citigroup Inc. grew its stake in Fennec Pharmaceuticals by 302.8% in the 4th quarter. Citigroup Inc. now owns 4,141 shares of the company’s stock valued at $30,000 after acquiring an additional 3,113 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Fennec Pharmaceuticals by 21.3% in the 4th quarter. JPMorgan Chase & Co. now owns 9,670 shares of the company’s stock valued at $72,000 after acquiring an additional 1,699 shares during the last quarter. Finally, Valley Forge Investment Consultants Inc. ADV acquired a new stake in Fennec Pharmaceuticals in the 4th quarter valued at about $298,000. 55.24% of the stock is currently owned by institutional investors and hedge funds.

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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