Fennec Pharmaceuticals (NASDAQ:FENC) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report published on Tuesday,Benzinga reports. They currently have a $13.00 price target on the stock.

Other analysts also recently issued reports about the company. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a research note on Monday. Stephens raised shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Trading Up 4.7 %

Fennec Pharmaceuticals stock opened at $6.40 on Tuesday. The company has a market capitalization of $176.40 million, a price-to-earnings ratio of -63.99 and a beta of 0.36. The business’s fifty day simple moving average is $6.39 and its two-hundred day simple moving average is $5.62. Fennec Pharmaceuticals has a 12 month low of $3.96 and a 12 month high of $11.49.

Insider Buying and Selling

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $6.79, for a total value of $67,900.00. Following the completion of the sale, the director now owns 68,725 shares of the company’s stock, valued at $466,642.75. This trade represents a 12.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 31,186 shares of company stock worth $203,389. Corporate insiders own 10.98% of the company’s stock.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advantage Alpha Capital Partners LP purchased a new stake in shares of Fennec Pharmaceuticals in the 3rd quarter worth $264,000. State Street Corp grew its stake in Fennec Pharmaceuticals by 2.2% during the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after purchasing an additional 7,053 shares during the last quarter. Barclays PLC increased its stake in shares of Fennec Pharmaceuticals by 274.3% in the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after acquiring an additional 22,951 shares during the period. Franklin Resources Inc. lifted its holdings in Fennec Pharmaceuticals by 18.7% in the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after acquiring an additional 2,330 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Fennec Pharmaceuticals by 12.9% in the fourth quarter. Rhumbline Advisers now owns 34,299 shares of the company’s stock worth $217,000 after acquiring an additional 3,911 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Fennec Pharmaceuticals Company 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.