Fennec Pharmaceuticals (NASDAQ:FENC) Upgraded by Stephens to Strong-Buy Rating

Fennec Pharmaceuticals (NASDAQ:FENC) was upgraded by Stephens to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th. Craig Hallum cut their price objective on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, HC Wainwright reduced their price objective on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd.

Fennec Pharmaceuticals Stock Performance

NASDAQ FENC opened at $4.28 on Monday. The company has a market capitalization of $117.26 million, a PE ratio of -42.75 and a beta of 0.27. Fennec Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $11.92. The company has a current ratio of 7.80, a quick ratio of 7.64 and a debt-to-equity ratio of 9.86. The business’s 50-day moving average price is $4.70 and its 200 day moving average price is $5.89.

Institutional Trading of Fennec Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in Fennec Pharmaceuticals by 2.2% in the third 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 period. Acadian Asset Management LLC purchased a new stake in shares of Fennec Pharmaceuticals during the second quarter valued at approximately $49,000. Rhumbline Advisers lifted its position in shares of Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after purchasing an additional 8,987 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Fennec Pharmaceuticals in the second quarter valued at $69,000. Finally, BNP Paribas Financial Markets boosted its position in Fennec Pharmaceuticals by 67.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after buying an additional 13,223 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other 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.