Wedbush Reiterates Outperform Rating for Fennec Pharmaceuticals (NASDAQ:FENC)

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They presently have a $13.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 121.09% from the company’s current price.

Other analysts also recently issued reports about the company. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a report on Tuesday.

Fennec Pharmaceuticals Stock Performance

NASDAQ FENC traded up $0.04 on Friday, reaching $5.88. The stock had a trading volume of 29,655 shares, compared to its average volume of 118,127. The company has a debt-to-equity ratio of 9.86, a current ratio of 7.80 and a quick ratio of 7.64. The company has a market cap of $161.52 million, a P/E ratio of -58.79 and a beta of 0.35. The firm has a fifty day moving average of $5.09 and a two-hundred day moving average of $5.59. Fennec Pharmaceuticals has a 1-year low of $3.96 and a 1-year high of $11.92.

Insider Activity

In other news, Director Chris A. Rallis sold 6,409 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the transaction, the director now owns 52,214 shares in the company, valued at $320,593.96. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 13,473 shares of company stock worth $73,015. Company insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $49,000. The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals in the second quarter worth $69,000. Franklin Resources Inc. grew its position in shares of Fennec Pharmaceuticals by 18.7% in the third 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 raised its stake in shares of Fennec Pharmaceuticals by 274.3% during the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after purchasing an additional 22,951 shares during the period. Finally, Rhumbline Advisers boosted its stake in Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after purchasing an additional 8,987 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.