Fennec Pharmaceuticals (NASDAQ:FENC) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note issued to investors on Friday morning,RTT News reports. The firm currently has a $13.00 price target on the stock.

Several other equities research analysts have also issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday. Stephens raised shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

Shares of NASDAQ:FENC opened at $5.99 on Friday. The firm has a market cap of $164.55 million, a price-to-earnings ratio of -59.89 and a beta of 0.35. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.92. The company has a current ratio of 7.80, a quick ratio of 7.64 and a debt-to-equity ratio of 9.86. The business has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $5.58.

Insider Transactions at Fennec Pharmaceuticals

In other news, Director Chris A. Rallis sold 6,409 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the sale, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 13,473 shares of company stock worth $73,015. 10.98% of the stock is owned by corporate insiders.

Institutional Trading of Fennec Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in FENC. Acadian Asset Management LLC acquired a new position in shares of Fennec Pharmaceuticals during the second quarter worth approximately $49,000. The Manufacturers Life Insurance Company bought a new position in Fennec Pharmaceuticals during the second quarter worth $69,000. Franklin Resources Inc. boosted its holdings in Fennec Pharmaceuticals by 18.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after purchasing an additional 2,330 shares during the period. Barclays PLC grew its position in Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after purchasing an additional 22,951 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after purchasing an additional 8,987 shares during the period. 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.