Equities research analysts predict that Fennec Pharmaceuticals Inc (NASDAQ:FENC) will report ($0.24) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Fennec Pharmaceuticals’ earnings. The highest EPS estimate is ($0.21) and the lowest is ($0.26). Fennec Pharmaceuticals posted earnings of ($0.14) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 71.4%. The company is expected to announce its next earnings report on Tuesday, November 12th.
On average, analysts expect that Fennec Pharmaceuticals will report full-year earnings of ($0.85) per share for the current year, with EPS estimates ranging from ($0.92) to ($0.77). For the next financial year, analysts forecast that the company will report earnings of $1.21 per share, with EPS estimates ranging from ($0.52) to $2.94. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Fennec Pharmaceuticals.
Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.10).
Several equities analysts recently issued reports on the company. Zacks Investment Research cut Fennec Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. HC Wainwright set a $17.00 price target on Fennec Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Fennec Pharmaceuticals in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $12.50.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in Fennec Pharmaceuticals by 0.4% in the 4th quarter. BlackRock Inc. now owns 562,216 shares of the company’s stock valued at $3,588,000 after acquiring an additional 2,429 shares during the period. Hartford Financial Management Inc. increased its position in Fennec Pharmaceuticals by 65.0% in the 2nd quarter. Hartford Financial Management Inc. now owns 20,300 shares of the company’s stock valued at $81,000 after acquiring an additional 8,000 shares during the period. United Services Automobile Association increased its position in Fennec Pharmaceuticals by 32.1% during the 2nd quarter. United Services Automobile Association now owns 229,983 shares of the company’s stock worth $920,000 after purchasing an additional 55,933 shares during the period. Paloma Partners Management Co acquired a new position in Fennec Pharmaceuticals during the 2nd quarter worth approximately $218,000. Finally, Atria Investments LLC acquired a new position in Fennec Pharmaceuticals during the 2nd quarter worth approximately $215,000. Hedge funds and other institutional investors own 48.39% of the company’s stock.
FENC stock traded up $0.02 during trading on Thursday, hitting $4.35. The company had a trading volume of 6,400 shares, compared to its average volume of 37,134. Fennec Pharmaceuticals has a 1-year low of $3.26 and a 1-year high of $10.19. The firm has a 50-day moving average price of $4.20 and a 200-day moving average price of $4.89.
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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