Fennec Pharmaceuticals Inc (NASDAQ:FENC - Free Report) - Stock analysts at HC Wainwright dropped their FY2024 earnings estimates for shares of Fennec Pharmaceuticals in a note issued to investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.13) for the year, down from their previous forecast of $0.08. HC Wainwright has a "Buy" rating and a $13.00 price target on the stock. The consensus estimate for Fennec Pharmaceuticals' current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for Fennec Pharmaceuticals' Q4 2024 earnings at ($0.19) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at ($0.39) EPS.
Other equities research analysts also recently issued reports about the company. Stephens raised Fennec Pharmaceuticals to a "strong-buy" rating in a report on Monday, November 18th. Wedbush reiterated an "outperform" rating and issued a $13.00 price target (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.
Check Out Our Latest Stock Report on Fennec Pharmaceuticals
Fennec Pharmaceuticals Stock Performance
Shares of NASDAQ FENC traded up $0.18 during trading hours on Thursday, reaching $5.84. The stock had a trading volume of 77,409 shares, compared to its average volume of 118,500. The firm has a 50-day moving average of $5.05 and a 200-day moving average of $5.59. The firm has a market cap of $160.42 million, a price-to-earnings ratio of -58.39 and a beta of 0.35. The company has a current ratio of 7.80, a quick ratio of 7.64 and a debt-to-equity ratio of 9.86. Fennec Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $11.92.
Insider Buying and Selling at Fennec Pharmaceuticals
In related news, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals 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 $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 at the SEC website. Insiders sold a total of 13,473 shares of company stock valued at $73,015 in the last ninety days. Insiders own 10.98% of the company's stock.
Hedge Funds Weigh In On Fennec Pharmaceuticals
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Fennec Pharmaceuticals during the second quarter worth about $49,000. The Manufacturers Life Insurance Company purchased a new stake in Fennec Pharmaceuticals in the 2nd quarter valued at approximately $69,000. Franklin Resources Inc. boosted its holdings in 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. Barclays PLC increased its position in Fennec Pharmaceuticals by 274.3% during the 3rd quarter. Barclays PLC now owns 31,319 shares of the company's stock worth $157,000 after purchasing an additional 22,951 shares during the period. Finally, Rhumbline Advisers raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 55.51% of the company's stock.
Fennec Pharmaceuticals Company Profile
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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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