Fennec Pharmaceuticals (NASDAQ:FENC) Stock Rating Upgraded by Stephens

Stephens upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENC) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. HC Wainwright dropped their price objective on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Craig Hallum dropped their price objective on shares of Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective (down from $14.00) on shares of Fennec Pharmaceuticals in a report on Thursday, November 7th.

Fennec Pharmaceuticals Trading Up 3.0 %

Shares of FENC opened at $4.78 on Monday. Fennec Pharmaceuticals has a 1-year low of $3.96 and a 1-year high of $11.92. The company has a market capitalization of $131.12 million, a P/E ratio of -51.59 and a beta of 0.27. 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 firm’s 50 day simple moving average is $4.67 and its 200 day simple moving average is $5.84.

Institutional Trading of Fennec Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in Fennec Pharmaceuticals by 42.8% in the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Fennec Pharmaceuticals by 71,275.0% in the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after purchasing an additional 34,212 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Fennec Pharmaceuticals in the second quarter worth $49,000. WINTON GROUP Ltd bought a new stake in Fennec Pharmaceuticals in the second quarter worth $409,000. Finally, Rhumbline Advisers lifted its stake in Fennec Pharmaceuticals by 44.7% in the second 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 last quarter. 55.51% of the stock is owned by institutional investors.

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.