Fennec Pharmaceuticals’ (FENC) Outperform Rating Reaffirmed at Wedbush

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued on Friday,RTT News reports. They presently have a $13.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 117.03% from the company’s current price.

A number of other analysts have also weighed in on FENC. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Tuesday, December 17th. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

Shares of NASDAQ FENC opened at $5.99 on Friday. The stock has a market cap of $164.55 million, a P/E ratio of -59.89 and a beta of 0.35. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The firm’s 50-day simple moving average is $5.12 and its 200 day simple moving average is $5.58. Fennec Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $11.92.

Insider Activity

In related news, Director Chris A. Rallis sold 6,409 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.14, for a total value of $39,351.26. Following the sale, the director now directly owns 52,214 shares in the company, valued at $320,593.96. The trade was a 10.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 13,473 shares of company stock worth $73,015. Corporate insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at $409,000. Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals during the third quarter worth $264,000. Barclays PLC boosted 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 period. Bank of New York Mellon Corp increased its stake in Fennec Pharmaceuticals by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Fennec Pharmaceuticals during the 2nd quarter worth about $69,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.