Craig Hallum Cuts Fennec Pharmaceuticals (NASDAQ:FENC) Price Target to $17.00

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) had its price objective decreased by Craig Hallum from $20.00 to $17.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Craig Hallum's price target would suggest a potential upside of 143.55% from the stock's current price.

FENC has been the topic of several other reports. Wedbush reissued an "outperform" rating and set a $16.00 price objective on shares of Fennec Pharmaceuticals in a research note on Tuesday. HC Wainwright reduced their price objective on Fennec Pharmaceuticals from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday.

Fennec Pharmaceuticals Stock Down 4.9 %

NASDAQ FENC traded down $0.36 during trading hours on Wednesday, hitting $6.98. 780,370 shares of the company were exchanged, compared to its average volume of 128,520. The stock has a 50-day moving average price of $9.97 and a 200 day moving average price of $9.64. Fennec Pharmaceuticals has a 52 week low of $6.30 and a 52 week high of $11.92. The stock has a market cap of $190.69 million, a PE ratio of -11.44 and a beta of 0.45.

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.08). The business had revenue of $25.38 million during the quarter, compared to the consensus estimate of $10.46 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts anticipate that Fennec Pharmaceuticals will post 0.51 earnings per share for the current year.

Insider Activity

In other news, CFO Robert Andrade sold 13,975 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $11.00, for a total transaction of $153,725.00. Following the transaction, the chief financial officer now owns 105,746 shares of the company's stock, valued at $1,163,206. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Robert Andrade sold 13,975 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $11.00, for a total value of $153,725.00. Following the transaction, the chief financial officer now owns 105,746 shares of the company's stock, valued at $1,163,206. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Adrian Haigh sold 22,222 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $9.34, for a total value of $207,553.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,093 shares of company stock valued at $1,984,921. 11.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in Fennec Pharmaceuticals by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company's stock worth $34,000 after buying an additional 1,578 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Fennec Pharmaceuticals during the third quarter worth $50,000. Jump Financial LLC purchased a new stake in Fennec Pharmaceuticals during the fourth quarter worth $158,000. BNP Paribas Financial Markets lifted its holdings in Fennec Pharmaceuticals by 67.7% during the first quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company's stock worth $364,000 after buying an additional 13,223 shares during the period. Finally, Eudaimonia Advisors LLC lifted its holdings in Fennec Pharmaceuticals by 90.8% during the fourth quarter. Eudaimonia Advisors LLC now owns 32,686 shares of the company's stock worth $367,000 after buying an additional 15,556 shares during the period. Institutional investors own 55.51% of the company's stock.

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.