Fennec Pharmaceuticals' (FENC) "Outperform" Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC - Free Report) in a research report report published on Tuesday, RTT News reports. They currently have a $16.00 price target on the stock.

Several other research firms have also issued reports on FENC. HC Wainwright upped their target price on shares of Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a buy rating in a research note on Thursday, April 4th. Craig Hallum boosted their target price on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the stock a buy rating in a research note on Monday, March 18th.

Fennec Pharmaceuticals Stock Down 26.7 %

FENC stock traded down $2.68 during mid-day trading on Tuesday, reaching $7.34. 1,104,215 shares of the company traded hands, compared to its average volume of 121,492. The firm's 50 day moving average price is $10.03 and its 200 day moving average price is $9.66. The stock has a market cap of $200.53 million, a price-to-earnings ratio of -12.03 and a beta of 0.45. Fennec Pharmaceuticals has a fifty-two week low of $6.30 and a fifty-two week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.12). The firm had revenue of $9.74 million during the quarter, compared to the consensus estimate of $9.47 million. On average, analysts anticipate that Fennec Pharmaceuticals will post 0.51 EPS for the current fiscal year.

Insider Transactions at Fennec Pharmaceuticals

In other news, COO Adrian Haigh sold 22,222 shares of the company's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $10.30, for a total transaction of $228,886.60. Following the transaction, the chief operating officer now owns 22,222 shares of the company's stock, valued at approximately $228,886.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Robert Andrade sold 13,975 shares of Fennec Pharmaceuticals 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 completion of the transaction, the chief financial officer now directly owns 105,746 shares in the company, valued at approximately $1,163,206. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adrian Haigh sold 22,222 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $10.30, for a total value of $228,886.60. Following the sale, the chief operating officer now owns 22,222 shares in the company, valued at approximately $228,886.60. The disclosure for this sale can be found here. Insiders sold a total of 193,093 shares of company stock worth $1,984,921 in the last quarter. Insiders own 11.25% of the company's stock.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in FENC. Tower Research Capital LLC TRC grew its position in shares of Fennec Pharmaceuticals by 107.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company's stock valued at $34,000 after purchasing an additional 1,578 shares in the last quarter. Hartford Financial Management Inc. raised its holdings in shares of Fennec Pharmaceuticals by 4.4% in the 4th quarter. Hartford Financial Management Inc. now owns 47,348 shares of the company's stock valued at $531,000 after acquiring an additional 2,000 shares in the last quarter. Gendell Jeffrey L boosted its position in shares of Fennec Pharmaceuticals by 0.9% during the 3rd quarter. Gendell Jeffrey L now owns 285,992 shares of the company's stock valued at $2,148,000 after acquiring an additional 2,579 shares during the last quarter. Eudaimonia Advisors LLC grew its holdings in shares of Fennec Pharmaceuticals by 8.2% during the first quarter. Eudaimonia Advisors LLC now owns 35,359 shares of the company's stock worth $393,000 after purchasing an additional 2,673 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Fennec Pharmaceuticals in the third quarter worth approximately $50,000. 55.51% of the stock is currently owned by institutional investors.

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.