Fennec Pharmaceuticals (NASDAQ:FENC) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC - Free Report) in a report issued on Friday morning,RTT News reports. The brokerage currently has a $13.00 price target on the stock.

Several other research analysts have also weighed in on FENC. Stephens raised Fennec Pharmaceuticals to a "strong-buy" rating in a research report on Monday, November 18th. HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a report on Tuesday.

Fennec Pharmaceuticals Trading Up 2.6 %

Shares of FENC traded up $0.15 during trading hours on Friday, hitting $5.99. The stock had a trading volume of 172,912 shares, compared to its average volume of 118,721. The firm has a market cap of $164.55 million, a P/E ratio of -59.89 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. The company's fifty day simple moving average is $5.12 and its 200 day simple moving average is $5.58. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.92.

Insider Buying and Selling at Fennec Pharmaceuticals

In related news, Director Chris A. Rallis sold 6,409 shares of the firm's stock in a transaction on Monday, December 2nd. The shares were 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 in the company, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 13,473 shares of company stock worth $73,015 over the last three months. Corporate insiders own 10.98% of the company's stock.

Institutional Trading of Fennec Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its holdings 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 worth $74,000 after acquiring an additional 2,330 shares during the period. 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 worth $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 about $49,000. Rhumbline Advisers lifted its position in shares of Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company's stock worth $178,000 after buying an additional 8,987 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals during the second quarter valued at $69,000. 55.51% of the stock is owned by 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.