Fennec Pharmaceuticals’ (FENC) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note published on Monday,RTT News reports. They currently have a $13.00 price target on the stock. Wedbush also issued estimates for Fennec Pharmaceuticals’ FY2025 earnings at $0.55 EPS and FY2027 earnings at $2.84 EPS.

A number of other analysts have also weighed in on the stock. Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday, December 17th.

Fennec Pharmaceuticals Stock Performance

FENC stock opened at $6.50 on Monday. The firm has a market cap of $179.15 million, a P/E ratio of -64.99 and a beta of 0.36. Fennec Pharmaceuticals has a 52 week low of $3.96 and a 52 week high of $11.49. The firm’s fifty day moving average is $6.39 and its 200 day moving average is $5.63.

Insider Buying and Selling at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $6.08, for a total transaction of $60,800.00. Following the completion of the sale, the director now owns 83,863 shares of the company’s stock, valued at approximately $509,887.04. The trade was a 10.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 31,186 shares of company stock worth $203,389. Insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new position in shares of Fennec Pharmaceuticals in the fourth quarter worth about $69,000. Franklin Resources Inc. boosted its stake 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 purchasing an additional 2,330 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Fennec Pharmaceuticals by 31.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock worth $83,000 after acquiring an additional 3,155 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Fennec Pharmaceuticals in the fourth quarter worth about $97,000. Finally, MetLife Investment Management LLC bought a new position in Fennec Pharmaceuticals in the fourth quarter worth approximately $99,000. 55.51% of the stock is currently owned by institutional investors.

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.