Fennec Pharmaceuticals (NASDAQ:FENC) Announces Quarterly Earnings Results

Fennec Pharmaceuticals (NASDAQ:FENC) issued its quarterly earnings data on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.26), Zacks reports. Fennec Pharmaceuticals had a net margin of 6.33% and a negative return on equity of 39.41%. The company had revenue of $7.26 million for the quarter, compared to the consensus estimate of $13.67 million. During the same period in the previous year, the business posted ($0.21) earnings per share.

Fennec Pharmaceuticals Stock Performance

Shares of FENC traded up $0.17 during trading hours on Thursday, hitting $5.50. The company had a trading volume of 52,236 shares, compared to its average volume of 122,636. The firm has a market cap of $150.30 million, a price-to-earnings ratio of 177.67 and a beta of 0.29. The company has a quick ratio of 6.72, a current ratio of 6.93 and a debt-to-equity ratio of 9.86. The business has a fifty day moving average of $6.33 and a 200-day moving average of $8.30. Fennec Pharmaceuticals has a 12 month low of $5.26 and a 12 month high of $11.92.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Craig Hallum cut their target price on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $14.00 price target (down previously from $16.00) on shares of Fennec Pharmaceuticals in a research report on Tuesday. Finally, HC Wainwright dropped their price objective on Fennec Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 15th.

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.