Fennec Pharmaceuticals (NASDAQ:FENC) Stock Rating Reaffirmed by Craig Hallum

Fennec Pharmaceuticals (NASDAQ:FENC) Stock Rating Reaffirmed by Craig Hallum

Fennec Pharmaceuticals (NASDAQ:FENC – Get Rating)’s stock had its “buy” rating reissued by stock analysts at Craig Hallum in a report issued on Monday, Stock Target Advisor reports. They currently have a $14.00 price objective on the stock. Craig Hallum’s price objective would indicate a potential upside of 98.58% from the stock’s previous close.

Separately, Wedbush reaffirmed an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 27th.

Fennec Pharmaceuticals Stock Performance

NASDAQ FENC traded up $0.06 during trading hours on Monday, hitting $7.05. The company had a trading volume of 208 shares, compared to its average volume of 37,438. Fennec Pharmaceuticals has a fifty-two week low of $3.35 and a fifty-two week high of $7.59. The company has a quick ratio of 8.96, a current ratio of 8.96 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $6.10 and a 200-day simple moving average of $5.71. The firm has a market cap of $183.77 million, a P/E ratio of -11.19 and a beta of 0.09.

Fennec Pharmaceuticals (NASDAQ:FENC – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Equities analysts predict that Fennec Pharmaceuticals will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Fennec Pharmaceuticals

An institutional investor recently raised its position in Fennec Pharmaceuticals stock. DG Capital Management LLC raised its position in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC – Get Rating) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,210,638 shares of the company’s stock after purchasing an additional 51,249 shares during the period. Fennec Pharmaceuticals accounts for about 1.4% of DG Capital Management LLC’s investment portfolio, making the stock its 20th largest position. DG Capital Management LLC owned approximately 4.65% of Fennec Pharmaceuticals worth $6,780,000 at the end of the most recent reporting period. 43.62% of the stock is owned by hedge funds and other 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.

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