Fennec Pharmaceuticals (NASDAQ:FENC) PT Raised to $18.00 at HC Wainwright

Fennec Pharmaceuticals (NASDAQ:FENC) had its price target boosted by research analysts at HC Wainwright from $17.00 to $18.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 68.38% from the stock’s current price. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q2 2024 earnings at $0.01 EPS, Q4 2024 earnings at $0.16 EPS, FY2024 earnings at $0.23 EPS and Q3 2025 earnings at $0.12 EPS.

Other research analysts also recently issued research reports about the company. Wedbush restated an “outperform” rating and set a $16.00 price target on shares of Fennec Pharmaceuticals in a report on Monday, March 18th. Craig Hallum lifted their price objective on Fennec Pharmaceuticals from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

Fennec Pharmaceuticals Price Performance

Shares of NASDAQ:FENC opened at $10.69 on Thursday. Fennec Pharmaceuticals has a 1 year low of $6.30 and a 1 year high of $11.92. The company has a market cap of $289.06 million, a PE ratio of -17.52 and a beta of 0.38. The stock’s 50-day moving average is $10.01 and its 200 day moving average is $9.14.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, CEO Rosty Raykov sold 44,300 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $10.75, for a total value of $476,225.00. Following the sale, the chief executive officer now directly owns 187,471 shares of the company’s stock, valued at approximately $2,015,313.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Robert Andrade sold 13,975 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $11.00, for a total value of $153,725.00. Following the sale, the chief financial officer now directly owns 105,746 shares of the company’s stock, valued at approximately $1,163,206. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Rosty Raykov sold 44,300 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $10.75, for a total value of $476,225.00. Following the completion of the sale, the chief executive officer now directly owns 187,471 shares in the company, valued at $2,015,313.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,973 shares of company stock valued at $1,090,636. 11.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds have recently made changes to their positions in FENC. UBS Group AG lifted its position in Fennec Pharmaceuticals by 4,742.2% in the 3rd quarter. UBS Group AG now owns 3,099 shares of the company’s stock valued at $26,000 after acquiring an additional 3,035 shares in the last quarter. Royal Bank of Canada lifted its position in Fennec Pharmaceuticals by 650.5% in the 2nd quarter. Royal Bank of Canada now owns 3,182 shares of the company’s stock valued at $28,000 after acquiring an additional 2,758 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Fennec Pharmaceuticals by 107.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock valued at $34,000 after acquiring an additional 1,578 shares in the last quarter. BNP Paribas Arbitrage SNC lifted its position in Fennec Pharmaceuticals by 2,777.1% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 4,891 shares of the company’s stock valued at $43,000 after acquiring an additional 4,721 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Fennec Pharmaceuticals in the 3rd quarter valued at approximately $50,000. 55.51% of the stock is owned by institutional investors.

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.