Fennec Pharmaceuticals (NASDAQ:FENC) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report published on Monday,RTT News reports. The firm currently has a $13.00 target price on the stock.

FENC has been the topic of a number of other reports. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Fennec Pharmaceuticals in a report on Tuesday, December 17th.

Fennec Pharmaceuticals Stock Performance

Shares of FENC opened at $6.11 on Monday. The stock has a market capitalization of $168.40 million, a P/E ratio of -61.09 and a beta of 0.36. The company’s fifty day moving average is $6.39 and its two-hundred day moving average is $5.61. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.49.

Insider Buying and Selling

In related news, Director Rosty Raykov sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $6.66, for a total value of $66,600.00. Following the completion of the sale, the director now 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 document filed with the SEC, which is available through the SEC website. Insiders have sold 31,186 shares of company stock worth $203,389 over the last ninety days. 10.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in Fennec Pharmaceuticals during the 4th quarter valued at about $69,000. Franklin Resources Inc. boosted its position in Fennec Pharmaceuticals by 18.7% during the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock worth $74,000 after purchasing an additional 2,330 shares during the period. Wells Fargo & Company MN boosted its position in Fennec Pharmaceuticals by 31.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock worth $83,000 after purchasing an additional 3,155 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Fennec Pharmaceuticals during the fourth quarter worth approximately $97,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Fennec Pharmaceuticals during the fourth quarter worth approximately $99,000. 55.51% of the stock is currently owned by institutional investors.

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.