Zacks Investment Research cut shares of Fennec Pharmaceuticals (NASDAQ:FENC) from a hold rating to a sell rating in a research report report published on Wednesday.
According to Zacks, “Fennec Pharmaceuticals Inc. is a clinical-stage biotechnology company. It is focused on the development of Sodium Thiosulfate for the prevention of ototoxicity from cisplatin in pediatric patients. The Company’s products include Eniluracil and Sodium Thiosulfate (STS). Fennec Pharmaceuticals Inc., formerly known as Adherex Technologies Inc., is based in United States. “
Several other research firms have also recently issued reports on FENC. ValuEngine upgraded Fennec Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, May 17th. HC Wainwright restated a buy rating and set a $18.00 price objective on shares of Fennec Pharmaceuticals in a report on Wednesday, June 20th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $17.00.
Shares of NASDAQ:FENC opened at $9.73 on Wednesday. The firm has a market cap of $188.13 million, a price-to-earnings ratio of -20.70 and a beta of -0.36. Fennec Pharmaceuticals has a one year low of $7.55 and a one year high of $14.99.
Fennec Pharmaceuticals (NASDAQ:FENC) last announced its earnings results on Monday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). equities research analysts forecast that Fennec Pharmaceuticals will post -0.41 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. Granahan Investment Management Inc. MA boosted its holdings in shares of Fennec Pharmaceuticals by 20.3% during the second quarter. Granahan Investment Management Inc. MA now owns 57,002 shares of the company’s stock worth $595,000 after purchasing an additional 9,626 shares during the last quarter. Opaleye Management Inc. raised its position in shares of Fennec Pharmaceuticals by 8.2% in the 2nd quarter. Opaleye Management Inc. now owns 945,000 shares of the company’s stock worth $9,865,000 after buying an additional 72,000 shares during the period. United Services Automobile Association raised its position in shares of Fennec Pharmaceuticals by 20.7% in the 2nd quarter. United Services Automobile Association now owns 55,348 shares of the company’s stock worth $578,000 after buying an additional 9,500 shares during the period. BlackRock Inc. purchased a new position in shares of Fennec Pharmaceuticals in the 2nd quarter worth $5,795,000. Finally, Bronfman E.L. Rothschild L.P. purchased a new position in shares of Fennec Pharmaceuticals in the 2nd quarter worth $151,000. Institutional investors and hedge funds own 40.85% 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.
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