Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) was upgraded by equities researchers at Stephens to a "strong-buy" rating in a report released on Monday,Zacks.com reports.
FENC has been the topic of a number of other reports. HC Wainwright lowered their price objective on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, August 22nd. Craig Hallum lowered their target price on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, August 14th. Finally, Wedbush restated an "outperform" rating and issued a $13.00 price objective (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.
Get Our Latest Research Report on FENC
Fennec Pharmaceuticals Stock Performance
Fennec Pharmaceuticals stock traded up $0.36 during midday trading on Monday, hitting $4.64. 190,728 shares of the company's stock were exchanged, compared to its average volume of 114,154. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.92. The firm's 50 day simple moving average is $4.68 and its 200 day simple moving average is $5.85. The stock has a market cap of $127.28 million, a price-to-earnings ratio of -47.60 and a beta of 0.27.
Hedge Funds Weigh In On Fennec Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new stake in Fennec Pharmaceuticals during the 2nd quarter worth about $49,000. The Manufacturers Life Insurance Company acquired a new position in shares of Fennec Pharmaceuticals in the second quarter valued at approximately $69,000. Rhumbline Advisers lifted its stake in shares of Fennec Pharmaceuticals by 44.7% during the second quarter. Rhumbline Advisers now owns 29,110 shares of the company's stock valued at $178,000 after buying an additional 8,987 shares during the period. Barclays PLC boosted its position in Fennec Pharmaceuticals by 274.3% during 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. Finally, BNP Paribas Financial Markets grew its stake in Fennec Pharmaceuticals by 67.7% in the 1st quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company's stock worth $364,000 after acquiring an additional 13,223 shares during the period. 55.51% of the stock is currently owned by hedge funds and other institutional investors.
Fennec Pharmaceuticals Company Profile
(
Get Free Report)
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.
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