Fennec Pharmaceuticals (NASDAQ:FENC) Upgraded at Stephens

Stephens upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENC) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on FENC. Wedbush reissued an “outperform” rating and set a $13.00 target price (down from $14.00) on shares of Fennec Pharmaceuticals in a research note on Thursday, November 7th. Craig Hallum decreased their price objective on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Finally, HC Wainwright cut their target price on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Fennec Pharmaceuticals Stock Performance

Shares of FENC opened at $4.64 on Monday. The firm has a fifty day moving average of $4.68 and a 200-day moving average of $5.85. The company has a market cap of $127.28 million, a price-to-earnings ratio of -47.60 and a beta of 0.27. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.92.

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter worth $49,000. The Manufacturers Life Insurance Company bought a new stake in Fennec Pharmaceuticals in the second quarter worth about $69,000. Barclays PLC lifted its holdings in Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after acquiring an additional 22,951 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after purchasing an additional 8,987 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in shares of Fennec Pharmaceuticals in the 3rd quarter worth approximately $264,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.