The Manufacturers Life Insurance Company Purchases New Shares in Fennec Pharmaceuticals Inc (NASDAQ:FENC)

The Manufacturers Life Insurance Company acquired a new position in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,310 shares of the company’s stock, valued at approximately $69,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FENC. Acadian Asset Management LLC purchased a new stake in shares of Fennec Pharmaceuticals during the second quarter worth about $49,000. Rhumbline Advisers increased its stake in 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 buying an additional 8,987 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Fennec Pharmaceuticals by 67.7% during the first quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after acquiring an additional 13,223 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Fennec Pharmaceuticals by 71,275.0% in the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock valued at $381,000 after acquiring an additional 34,212 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Fennec Pharmaceuticals in the second quarter worth approximately $409,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Craig Hallum reduced their price objective on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. HC Wainwright reduced their target price on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price target (down from $16.00) on shares of Fennec Pharmaceuticals in a research note on Tuesday, August 13th.

Fennec Pharmaceuticals Stock Performance

NASDAQ FENC opened at $4.66 on Tuesday. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.75 and a current ratio of 8.02. The stock’s fifty day moving average is $5.14 and its two-hundred day moving average is $6.64. The firm has a market capitalization of $127.35 million, a P/E ratio of 155.33 and a beta of 0.25. Fennec Pharmaceuticals Inc has a fifty-two week low of $4.09 and a fifty-two week high of $11.92.

Fennec Pharmaceuticals (NASDAQ:FENC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26). Fennec Pharmaceuticals had a net margin of 5.59% and a negative return on equity of 53.38%. The firm had revenue of $7.26 million during the quarter, compared to analysts’ expectations of $13.67 million. During the same period in the prior year, the company posted ($0.21) EPS. On average, research analysts anticipate that Fennec Pharmaceuticals Inc will post -0.07 earnings per share for the current year.

Fennec Pharmaceuticals Profile

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.