Fennec Pharmaceuticals (NASDAQ:FENC) Downgraded by Zacks Investment Research
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. “
A number of other research analysts also recently issued reports on FENC. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Fennec Pharmaceuticals in a research note on Monday, December 2nd. ValuEngine upgraded Fennec Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st.
Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.11. On average, analysts forecast that Fennec Pharmaceuticals will post -0.59 EPS for the current year.
Several large investors have recently made changes to their positions in the stock. Granahan Investment Management Inc. MA grew its stake in shares of Fennec Pharmaceuticals by 3.8% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 455,979 shares of the company’s stock valued at $2,193,000 after acquiring an additional 16,896 shares during the period. United Services Automobile Association grew its stake in shares of Fennec Pharmaceuticals by 32.1% during the 2nd quarter. United Services Automobile Association now owns 229,983 shares of the company’s stock valued at $920,000 after acquiring an additional 55,933 shares during the period. Paloma Partners Management Co purchased a new position in Fennec Pharmaceuticals in the 2nd quarter worth approximately $218,000. Hartford Financial Management Inc. lifted its holdings in Fennec Pharmaceuticals by 47.8% in the 3rd quarter. Hartford Financial Management Inc. now owns 30,000 shares of the company’s stock worth $144,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in Fennec Pharmaceuticals in the 2nd quarter worth approximately $215,000. Institutional investors own 42.57% 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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