Brokers Issue Forecasts for Fennec Pharmaceuticals Inc’s FY2023 Earnings (NASDAQ:FENC)

Fennec Pharmaceuticals Inc (NASDAQ:FENC – Get Rating) – Equities researchers at Cantor Fitzgerald issued their FY2023 earnings per share estimates for Fennec Pharmaceuticals in a research note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst C. Duncan anticipates that the company will post earnings per share of ($0.72) for the year.

Fennec Pharmaceuticals (NASDAQ:FENC – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14).

Several other equities analysts also recently issued reports on FENC. Wedbush reissued an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 27th. Zacks Investment Research raised shares of Fennec Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Tuesday, May 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.17.

Shares of NASDAQ FENC opened at $5.58 on Thursday. Fennec Pharmaceuticals has a 12-month low of $3.16 and a 12-month high of $6.55. The company has a quick ratio of 8.96, a current ratio of 8.96 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $5.87 and its two-hundred day moving average is $5.36.

A number of large investors have recently bought and sold shares of FENC. JPMorgan Chase & Co. increased its position in shares of Fennec Pharmaceuticals by 23,280.0% in the first quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock worth $91,000 after acquiring an additional 16,296 shares in the last quarter. DG Capital Management LLC increased its position in shares of Fennec Pharmaceuticals by 4.4% in the first quarter. DG Capital Management LLC now owns 1,210,638 shares of the company’s stock worth $6,780,000 after acquiring an additional 51,249 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Fennec Pharmaceuticals by 189.1% in the fourth quarter. Citadel Advisors LLC now owns 14,874 shares of the company’s stock worth $65,000 after acquiring an additional 31,574 shares in the last quarter. Bank of America Corp DE increased its position in shares of Fennec Pharmaceuticals by 134.8% in the fourth quarter. Bank of America Corp DE now owns 11,383 shares of the company’s stock worth $51,000 after acquiring an additional 6,536 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its position in shares of Fennec Pharmaceuticals by 20.8% in the fourth quarter. Hartford Financial Management Inc. now owns 34,848 shares of the company’s stock worth $153,000 after acquiring an additional 6,000 shares in the last quarter. 43.62% of the stock is currently owned by institutional investors.

Fennec Pharmaceuticals Company Profile (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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