Fennec Pharmaceuticals' (FENC) Buy Rating Reiterated at HC Wainwright

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $13.00 target price on the stock. HC Wainwright's target price points to a potential upside of 69.93% from the stock's current price.

Several other analysts also recently weighed in on the stock. Craig Hallum lifted their target price on shares of Fennec Pharmaceuticals from $12.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research note on Monday, March 10th.

Fennec Pharmaceuticals Stock Up 11.8%

FENC stock opened at $7.65 on Tuesday. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $8.12. The stock has a market cap of $211.29 million, a price-to-earnings ratio of -76.49 and a beta of 0.32. The business has a fifty day moving average of $5.93 and a two-hundred day moving average of $5.97.

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

Insider Activity at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of Fennec Pharmaceuticals stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $6.31, for a total transaction of $63,100.00. Following the completion of the sale, the director now directly owns 53,587 shares of the company's stock, valued at $338,133.97. The trade was a 15.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey S. Hackman bought 13,965 shares of the business's stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $6.99 per share, for a total transaction of $97,615.35. Following the transaction, the chief executive officer now directly owns 15,000 shares in the company, valued at approximately $104,850. This represents a 1,349.28% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 30,000 shares of company stock worth $183,500. Company insiders own 11.76% of the company's stock.

Institutional Trading of Fennec Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in Fennec Pharmaceuticals during the 1st quarter worth $66,000. Intech Investment Management LLC acquired a new stake in shares of Fennec Pharmaceuticals during the fourth quarter worth about $69,000. Wells Fargo & Company MN boosted its position in shares of Fennec Pharmaceuticals by 31.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock valued at $83,000 after purchasing an additional 3,155 shares during the period. Jane Street Group LLC acquired a new position in Fennec Pharmaceuticals during the first quarter worth approximately $90,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Fennec Pharmaceuticals in the fourth quarter valued at approximately $97,000. 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.

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