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

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright's target price points to a potential upside of 114.17% from the company's current price.

Other equities analysts have also issued research reports about the company. Stephens raised Fennec Pharmaceuticals to a "strong-buy" rating in a research note on Monday, November 18th. Wedbush restated an "outperform" rating and set 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

Shares of NASDAQ:FENC traded up $0.12 during midday trading on Tuesday, reaching $6.07. 80,629 shares of the company's stock traded hands, compared to its average volume of 118,728. The company has a fifty day simple moving average of $4.99 and a two-hundred day simple moving average of $5.59. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.92. The company has a market cap of $166.74 million, a P/E ratio of -59.80 and a beta of 0.35. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80.

Insider Buying and Selling

In related news, Director Chris A. Rallis sold 6,409 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the transaction, the director now directly owns 52,214 shares of the company's stock, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 13,473 shares of company stock worth $73,015. 10.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of FENC. Franklin Resources Inc. raised its position in shares of Fennec Pharmaceuticals by 18.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company's stock valued at $74,000 after acquiring an additional 2,330 shares in the last quarter. State Street Corp boosted its stake in Fennec Pharmaceuticals by 2.2% during the 3rd 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 in the last quarter. Acadian Asset Management LLC acquired a new position in Fennec Pharmaceuticals in the second quarter worth approximately $49,000. Rhumbline Advisers increased its stake in Fennec Pharmaceuticals by 44.7% in the 2nd 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. Finally, The Manufacturers Life Insurance Company acquired a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $69,000. 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.