Fennec Pharmaceuticals’ (FENC) Outperform Rating Reiterated at Wedbush

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

A number of other equities research analysts also recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Stock Performance

Shares of NASDAQ:FENC opened at $5.99 on Friday. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.92. The company’s 50 day moving average price is $5.12 and its two-hundred day moving average price is $5.57. The firm has a market cap of $164.55 million, a PE ratio of -59.89 and a beta of 0.35. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86.

Insider Activity at Fennec Pharmaceuticals

In related news, Director Chris A. Rallis sold 6,409 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was 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 directly owns 52,214 shares in the company, valued at $320,593.96. This represents a 10.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 13,473 shares of company stock valued at $73,015 over the last three months. 10.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FENC. WINTON GROUP Ltd bought a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at approximately $409,000. Advantage Alpha Capital Partners LP acquired a new stake in Fennec Pharmaceuticals in the third quarter valued at approximately $264,000. Barclays PLC grew its stake in shares of Fennec Pharmaceuticals by 274.3% during the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after buying an additional 22,951 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after buying an additional 20,602 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Fennec Pharmaceuticals during the second quarter worth $69,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.