HC Wainwright Boosts Fennec Pharmaceuticals (NASDAQ:FENC) Price Target to $18.00

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) had its target price upped by HC Wainwright from $17.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective suggests a potential upside of 64.99% from the stock's current price.

A number of other equities research analysts have also recently commented on FENC. Craig Hallum raised their target price on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Wedbush restated an "outperform" rating and set a $16.00 target price on shares of Fennec Pharmaceuticals in a research report on Monday, March 18th.

Fennec Pharmaceuticals Stock Up 1.3 %

Shares of NASDAQ:FENC traded up $0.14 during trading on Thursday, reaching $10.91. 166,666 shares of the company's stock traded hands, compared to its average volume of 109,830. Fennec Pharmaceuticals has a fifty-two week low of $6.30 and a fifty-two week high of $11.92. The firm has a market cap of $295.01 million, a PE ratio of -17.88 and a beta of 0.38. The company has a 50-day simple moving average of $10.00 and a 200-day simple moving average of $9.12.

Insider Buying and Selling

In related news, CEO Rosty Raykov sold 40,584 shares of Fennec Pharmaceuticals stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $10.78, for a total value of $437,495.52. Following the sale, the chief executive officer now directly owns 276,054 shares in the company, valued at approximately $2,975,862.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Fennec Pharmaceuticals news, CFO Robert Andrade sold 13,975 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $11.00, for a total value of $153,725.00. Following the transaction, the chief financial officer now directly owns 105,746 shares of the company's stock, valued at approximately $1,163,206. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rosty Raykov sold 40,584 shares of the firm's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $10.78, for a total transaction of $437,495.52. Following the completion of the transaction, the chief executive officer now directly owns 276,054 shares in the company, valued at $2,975,862.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,673 shares of company stock worth $614,411. Insiders own 11.25% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FENC. JPMorgan Chase & Co. lifted its stake in Fennec Pharmaceuticals by 23,280.0% in the 1st quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company's stock worth $91,000 after purchasing an additional 16,296 shares in the last quarter. UBS Group AG lifted its holdings in Fennec Pharmaceuticals by 4,742.2% in the third quarter. UBS Group AG now owns 3,099 shares of the company's stock valued at $26,000 after acquiring an additional 3,035 shares during the last quarter. Jane Street Group LLC acquired a new position in Fennec Pharmaceuticals in the third quarter valued at approximately $118,000. Citigroup Inc. acquired a new position in Fennec Pharmaceuticals in the fourth quarter valued at approximately $163,000. Finally, Barclays PLC acquired a new position in Fennec Pharmaceuticals in the fourth quarter valued at approximately $89,000. 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.