Fennec Pharmaceuticals (NASDAQ:FENC) Given New $13.00 Price Target at HC Wainwright

Fennec Pharmaceuticals (NASDAQ:FENC) had its target price decreased by HC Wainwright from $15.00 to $13.00 in a report published on Thursday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also recently commented on FENC. Craig Hallum cut their price target on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a buy rating for the company in a research note on Wednesday, August 14th. Wedbush restated an outperform rating and issued a $14.00 target price (down previously from $16.00) on shares of Fennec Pharmaceuticals in a research report on Tuesday, August 13th.

Fennec Pharmaceuticals Trading Down 2.3 %

Shares of FENC stock opened at $5.50 on Thursday. The company has a market capitalization of $150.30 million, a PE ratio of 183.33 and a beta of 0.29. Fennec Pharmaceuticals has a 52-week low of $5.00 and a 52-week high of $11.92. The business’s fifty day moving average is $6.17 and its 200 day moving average is $8.13. The company has a debt-to-equity ratio of 9.86, a quick ratio of 6.72 and a current ratio of 6.93.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26). Fennec Pharmaceuticals had a net margin of 6.33% and a negative return on equity of 39.41%. The business had revenue of $7.26 million during the quarter, compared to analysts’ expectations of $13.67 million. During the same period in the previous year, the business earned ($0.21) EPS. On average, equities research analysts anticipate that Fennec Pharmaceuticals will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Fennec Pharmaceuticals by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock worth $34,000 after purchasing an additional 1,578 shares during the period. Acadian Asset Management LLC purchased a new stake in Fennec Pharmaceuticals in the 2nd quarter worth approximately $49,000. The Manufacturers Life Insurance Company bought a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter worth approximately $69,000. Jump Financial LLC purchased a new position in shares of Fennec Pharmaceuticals during the fourth quarter valued at approximately $158,000. Finally, Rhumbline Advisers raised its holdings in shares of Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after acquiring an additional 8,987 shares in the last quarter. Institutional investors own 55.51% 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.