Wedbush Predicts Higher Earnings for Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc (NASDAQ:FENC - Free Report) - Wedbush boosted their FY2025 earnings per share estimates for Fennec Pharmaceuticals in a research note issued on Monday, March 10th. Wedbush analyst D. Nierengarten now expects that the company will post earnings of $0.55 per share for the year, up from their prior forecast of $0.46. Wedbush currently has a "Outperform" rating and a $13.00 price target on the stock. The consensus estimate for Fennec Pharmaceuticals' current full-year earnings is ($0.11) per share. Wedbush also issued estimates for Fennec Pharmaceuticals' FY2027 earnings at $2.84 EPS.

Several other brokerages have also recently weighed in on FENC. HC Wainwright reiterated a "buy" rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Tuesday, March 11th. Stephens upgraded Fennec Pharmaceuticals to a "strong-buy" rating in a research report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

FENC stock traded up $0.38 during trading on Wednesday, hitting $6.51. 182,178 shares of the company traded hands, compared to its average volume of 113,257. The stock's 50-day simple moving average is $6.40 and its 200 day simple moving average is $5.63. The company has a market cap of $179.43 million, a PE 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.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FENC. Rosalind Advisors Inc. acquired a new position in shares of Fennec Pharmaceuticals in the 4th quarter valued at $7,962,000. Solas Capital Management LLC increased its position in shares of Fennec Pharmaceuticals by 17.0% during the 4th quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company's stock worth $14,226,000 after purchasing an additional 327,383 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Fennec Pharmaceuticals during the 3rd quarter worth about $264,000. Clayton Partners LLC acquired a new stake in shares of Fennec Pharmaceuticals during the 4th quarter worth about $256,000. Finally, Barclays PLC increased its position in shares of 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 last quarter. Institutional investors and hedge funds own 55.51% of the company's stock.

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Insider Buying and Selling

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total transaction of $66,600.00. Following the transaction, the director now owns 76,294 shares of the company's stock, valued at approximately $508,118.04. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 31,186 shares of company stock worth $203,389. 10.98% of the stock is owned by corporate insiders.

Fennec Pharmaceuticals Company Profile

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.