Fennec Pharmaceuticals (NASDAQ:FENC) Upgraded to “Strong-Buy” at Stephens

Stephens upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENC) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

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

Fennec Pharmaceuticals Price Performance

FENC stock opened at $4.28 on Monday. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $11.92. The stock’s fifty day simple moving average is $4.70 and its 200-day simple moving average is $5.89. The stock has a market capitalization of $117.26 million, a price-to-earnings ratio of -42.75 and a beta of 0.27. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86.

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of institutional investors have recently bought and sold shares of FENC. Acadian Asset Management LLC purchased a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter worth about $49,000. The Manufacturers Life Insurance Company acquired a new stake in Fennec Pharmaceuticals during the second quarter worth about $69,000. Barclays PLC increased its holdings in Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after buying an additional 22,951 shares during the period. Rhumbline Advisers grew its stake in shares of Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after purchasing an additional 8,987 shares during the period. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter worth about $264,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.