Fennec Pharmaceuticals Inc (FENC) Given Consensus Recommendation of “Buy” by Analysts
Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) have earned a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $18.67.
Several research analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Fennec Pharmaceuticals in a report on Wednesday, June 20th. Zacks Investment Research cut Fennec Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. ValuEngine cut Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Wedbush dropped their price target on Fennec Pharmaceuticals from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, September 17th. Finally, Goldman Sachs Group assumed coverage on Fennec Pharmaceuticals in a report on Thursday, October 11th. They issued a “buy” rating on the stock.
Large investors have recently made changes to their positions in the business. Opaleye Management Inc. raised its stake in Fennec Pharmaceuticals by 8.2% during the 2nd quarter. Opaleye Management Inc. now owns 945,000 shares of the company’s stock valued at $9,865,000 after purchasing an additional 72,000 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $151,000. United Services Automobile Association raised its stake in Fennec Pharmaceuticals by 20.7% during the 2nd quarter. United Services Automobile Association now owns 55,348 shares of the company’s stock valued at $578,000 after purchasing an additional 9,500 shares during the period. Granahan Investment Management Inc. MA raised its stake in Fennec Pharmaceuticals by 20.3% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 57,002 shares of the company’s stock valued at $595,000 after purchasing an additional 9,626 shares during the period. Finally, Cardinal Capital Management raised its stake in Fennec Pharmaceuticals by 116.4% during the 2nd quarter. Cardinal Capital Management now owns 26,047 shares of the company’s stock valued at $272,000 after purchasing an additional 14,010 shares during the period. 49.78% of the stock is currently owned by institutional investors.
Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Monday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.04). On average, sell-side analysts predict that Fennec Pharmaceuticals will post -0.5 earnings per share for the current year.
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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