Fennec Pharmaceuticals (NASDAQ:FENC) Releases Quarterly Earnings Results, Misses Expectations By $0.62 EPS

Fennec Pharmaceuticals (NASDAQ:FENC) released its quarterly earnings data on Monday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.62), Zacks reports. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%.

Fennec Pharmaceuticals Trading Up 1.0 %

Shares of Fennec Pharmaceuticals stock opened at $6.88 on Monday. The company has a market capitalization of $189.63 million, a P/E ratio of -68.79 and a beta of 0.36. The stock has a fifty day simple moving average of $6.39 and a 200 day simple moving average of $5.61. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.49.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Rosty Raykov sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total value of $66,600.00. Following the completion of the transaction, the director now directly owns 76,294 shares of the company’s stock, valued at $508,118.04. This represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 31,186 shares of company stock worth $203,389. Corporate insiders own 10.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FENC shares. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research note on Friday, December 20th. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Finally, Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

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.