Fennec Pharmaceuticals' (FENC) "Outperform" Rating Reaffirmed at Wedbush

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Wedbush in a report issued on Monday,RTT News reports. They presently have a $13.00 price objective on the stock. Wedbush's target price would suggest a potential upside of 99.69% from the stock's previous close. Wedbush also issued estimates for Fennec Pharmaceuticals' Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.42 EPS, FY2025 earnings at $0.55 EPS, FY2026 earnings at $2.20 EPS and FY2027 earnings at $2.84 EPS.

Several other equities analysts have also issued reports on the company. HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a research note on Tuesday, December 17th. Stephens raised shares of Fennec Pharmaceuticals to a "strong-buy" rating in a research report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

Shares of NASDAQ:FENC traded up $0.38 during mid-day trading on Monday, reaching $6.51. 182,178 shares of the company were exchanged, compared to its average volume of 113,967. The firm has a market cap of $179.43 million, a price-to-earnings ratio of -65.09 and a beta of 0.36. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.49. The firm's 50-day simple moving average is $6.39 and its 200 day simple moving average is $5.63.

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Insider Buying and Selling

In related news, Director Rosty Raykov sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.79, for a total transaction of $67,900.00. Following the sale, the director now directly owns 68,725 shares in the company, valued at approximately $466,642.75. This represents a 12.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 31,186 shares of company stock valued at $203,389 in the last three months. 10.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Fennec Pharmaceuticals by 18.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company's stock valued at $74,000 after purchasing an additional 2,330 shares in the last quarter. Wells Fargo & Company MN raised its stake in Fennec Pharmaceuticals by 31.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company's stock valued at $83,000 after buying an additional 3,155 shares in the last quarter. Geode Capital Management LLC raised its stake in Fennec Pharmaceuticals by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 303,090 shares of the company's stock valued at $1,916,000 after buying an additional 3,792 shares in the last quarter. Rhumbline Advisers lifted its holdings in Fennec Pharmaceuticals by 12.9% during the 4th quarter. Rhumbline Advisers now owns 34,299 shares of the company's stock worth $217,000 after buying an additional 3,911 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Fennec Pharmaceuticals by 13.9% during the 4th quarter. Barclays PLC now owns 35,672 shares of the company's stock worth $225,000 after acquiring an additional 4,353 shares in 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.