Fennec Pharmaceuticals’ (FENC) Buy Rating Reaffirmed at HC Wainwright

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $13.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 118.49% from the company’s previous close.

Several other brokerages have also commented on FENC. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. Wedbush reissued an “outperform” rating and issued a $13.00 price target (down from $14.00) on shares of Fennec Pharmaceuticals in a research note on Thursday, November 7th.

Fennec Pharmaceuticals Price Performance

FENC opened at $5.95 on Tuesday. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80. The stock has a market capitalization of $163.45 million, a PE ratio of -59.50 and a beta of 0.35. The stock’s 50 day moving average price is $4.97 and its 200-day moving average price is $5.60. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $11.92.

Insider Buying and Selling

In related news, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals 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 transaction, the director now directly owns 52,214 shares of the company’s stock, valued at $320,593.96. This trade represents a 10.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 13,473 shares of company stock valued at $73,015 over the last ninety days. Company insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Fennec Pharmaceuticals by 2.2% in the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock worth $1,641,000 after purchasing an additional 7,053 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $420,000 after buying an additional 20,602 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Fennec Pharmaceuticals during the second quarter valued at $409,000. Advantage Alpha Capital Partners LP bought a new stake in Fennec Pharmaceuticals in the third quarter worth $264,000. Finally, Barclays PLC grew its stake in shares of Fennec Pharmaceuticals by 274.3% in the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after acquiring an additional 22,951 shares during the last quarter. Hedge funds and other institutional investors 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.