Wedbush Cuts Fennec Pharmaceuticals (FENC) Price Target to $16.00
Fennec Pharmaceuticals (NASDAQ:FENC) had its price target lowered by analysts at Wedbush from $17.00 to $16.00 in a report issued on Monday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 94.65% from the stock’s current price.
FENC has been the subject of a number of other research reports. ValuEngine lowered shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Zacks Investment Research lowered shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Fennec Pharmaceuticals in a report on Wednesday, June 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Fennec Pharmaceuticals has a consensus rating of “Hold” and an average price target of $16.75.
FENC opened at $8.22 on Monday. Fennec Pharmaceuticals has a 52 week low of $7.55 and a 52 week high of $14.99. The firm has a market cap of $159.04 million, a price-to-earnings ratio of -17.49 and a beta of -0.71.
Hedge funds have recently made changes to their positions in the company. Opaleye Management Inc. grew its holdings 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 valued at $9,865,000 after buying an additional 72,000 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Fennec Pharmaceuticals in the 2nd quarter valued at $151,000. United Services Automobile Association grew its holdings 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 valued at $578,000 after buying an additional 9,500 shares during the period. Cardinal Capital Management grew its holdings in shares of Fennec Pharmaceuticals by 116.4% in the 2nd quarter. Cardinal Capital Management now owns 26,047 shares of the company’s stock valued at $272,000 after buying an additional 14,010 shares during the period. Finally, Creative Planning acquired a new position in shares of Fennec Pharmaceuticals in the 2nd quarter valued at $105,000. 49.78% of the stock is 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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
Receive News & Ratings for Fennec Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fennec Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.