What is HC Wainwright’s Forecast for FENC FY2024 Earnings?

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Equities research analysts at HC Wainwright decreased their FY2024 earnings estimates for Fennec Pharmaceuticals in a research note issued on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now forecasts that the company will earn ($0.13) per share for the year, down from their previous forecast of $0.08. HC Wainwright currently has a “Buy” rating and a $13.00 target price on the stock. The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.19) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at ($0.39) EPS.

Other equities analysts also recently issued research reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th.

Fennec Pharmaceuticals Stock Up 3.2 %

Fennec Pharmaceuticals stock opened at $5.84 on Thursday. The company’s 50-day moving average price is $5.09 and its two-hundred day moving average price is $5.59. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The stock has a market cap of $160.42 million, a P/E ratio of -58.39 and a beta of 0.35. Fennec Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $11.92.

Institutional Trading of Fennec Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in FENC. Franklin Resources Inc. raised 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 valued at $74,000 after purchasing an additional 2,330 shares in the last quarter. State Street Corp lifted its position in shares of Fennec Pharmaceuticals by 2.2% during the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock worth $1,641,000 after buying an additional 7,053 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Fennec Pharmaceuticals in the second quarter valued at about $49,000. Rhumbline Advisers grew its position in Fennec Pharmaceuticals by 44.7% in the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after acquiring an additional 8,987 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Fennec Pharmaceuticals during the second quarter worth about $69,000. Institutional investors own 55.51% of the company’s stock.

Insider Activity at Fennec Pharmaceuticals

In related news, Director Chris A. Rallis sold 6,409 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.14, for a total transaction of $39,351.26. Following the completion of the sale, the director now owns 52,214 shares of the company’s stock, valued at $320,593.96. This represents a 10.93 % 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. Over the last ninety days, insiders sold 13,473 shares of company stock worth $73,015. Company insiders own 10.98% 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.