Fennec Pharmaceuticals (NASDAQ:FENC) Rating Increased to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) from a neutral rating to an overweight rating in a research report report published on Monday morning, The Fly reports. Cantor Fitzgerald currently has $12.00 target price on the stock, up from their previous target price of $9.00. Cantor Fitzgerald also issued estimates for Fennec Pharmaceuticals’ FY2022 earnings at ($0.91) EPS and FY2023 earnings at ($0.78) EPS.

Several other equities analysts have also weighed in on the stock. Craig Hallum restated a buy rating and set a $14.00 price target on shares of Fennec Pharmaceuticals in a research report on Monday, August 8th. Capital One Financial started coverage on shares of Fennec Pharmaceuticals in a research report on Wednesday, September 7th. They set an overweight rating and a $11.00 target price for the company. Maxim Group lifted their price target on shares of Fennec Pharmaceuticals from $10.00 to $15.00 in a report on Thursday, September 29th. Wedbush increased their price objective on Fennec Pharmaceuticals from $11.00 to $19.00 in a report on Monday, September 26th. Finally, HC Wainwright raised their target price on Fennec Pharmaceuticals from $14.00 to $18.00 and gave the stock a buy rating in a research report on Thursday, October 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $14.83.

Fennec Pharmaceuticals Stock Performance

FENC stock opened at $9.51 on Monday. The company has a quick ratio of 10.30, a current ratio of 10.30 and a debt-to-equity ratio of 8.81. The firm has a market cap of $249.54 million and a PE ratio of -11.60. The business has a 50 day moving average of $8.13 and a 200-day moving average of $6.91. Fennec Pharmaceuticals has a 12-month low of $3.82 and a 12-month high of $9.87.

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) last posted its quarterly earnings data on Friday, November 11th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.14). As a group, sell-side analysts expect that Fennec Pharmaceuticals will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. UBS Group AG lifted its position in shares of Fennec Pharmaceuticals by 4,742.2% during the third quarter. UBS Group AG now owns 3,099 shares of the company’s stock worth $26,000 after acquiring an additional 3,035 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter valued at $118,000. JPMorgan Chase & Co. lifted its holdings in Fennec Pharmaceuticals by 23,280.0% during the 1st quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock worth $91,000 after purchasing an additional 16,296 shares in the last quarter. Hartford Financial Management Inc. boosted its stake in Fennec Pharmaceuticals by 14.3% in the 3rd quarter. Hartford Financial Management Inc. now owns 39,848 shares of the company’s stock worth $323,000 after purchasing an additional 5,000 shares during the period. Finally, Tamarack Advisers LP purchased a new position in Fennec Pharmaceuticals during the 3rd quarter valued at about $1,418,000. 43.29% of the stock is currently owned by hedge funds and other institutional investors.

About Fennec Pharmaceuticals

(Get Rating)

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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Analyst Recommendations for Fennec Pharmaceuticals (NASDAQ:FENC)

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