Fennec Pharmaceuticals (NASDAQ:FENC) Earns Outperform Rating from Wedbush

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report released on Friday,RTT News reports. They presently have a $13.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 117.03% from the company’s current price.

FENC has been the subject of a number of other research reports. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th.

Fennec Pharmaceuticals Price Performance

FENC stock opened at $5.99 on Friday. The stock’s 50 day moving average is $5.12 and its two-hundred day moving average is $5.58. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $11.92. The company has a market capitalization 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 other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of the business’s stock in a transaction on 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 in the company, valued at $320,593.96. The trade was a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 13,473 shares of company stock valued at $73,015. Corporate insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. WINTON GROUP Ltd acquired a new stake in Fennec Pharmaceuticals during the second quarter worth about $409,000. Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter worth approximately $264,000. Barclays PLC lifted its holdings in shares of Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after purchasing an additional 22,951 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Fennec Pharmaceuticals by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Fennec Pharmaceuticals during the 2nd quarter valued at approximately $69,000. 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.