Fennec Pharmaceuticals (NASDAQ:FENC) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note published on Friday,RTT News reports. Wedbush currently has a $13.00 price objective on the stock.

Several other research analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Fennec Pharmaceuticals in a research report on Tuesday, December 17th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th.

Fennec Pharmaceuticals Trading Up 2.6 %

Shares of NASDAQ FENC opened at $5.99 on Friday. The firm has a 50 day moving average price of $5.12 and a two-hundred day moving average price of $5.57. The stock has a market cap of $164.55 million, a P/E ratio of -59.89 and a beta of 0.35. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $11.92. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.64 and a current ratio of 7.80.

Insider Buying and Selling

In related news, Director Chris A. Rallis sold 6,409 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.14, for a total transaction of $39,351.26. Following the sale, the director now owns 52,214 shares in the company, valued at $320,593.96. This represents a 10.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 13,473 shares of company stock valued at $73,015 over the last quarter. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at $49,000. The Manufacturers Life Insurance Company acquired a new position in shares of Fennec Pharmaceuticals during the second quarter valued at about $69,000. Franklin Resources Inc. boosted its position 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 in the last quarter. Barclays PLC grew its stake in shares of Fennec Pharmaceuticals by 274.3% in the 3rd quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after buying an additional 22,951 shares during the period. Finally, Rhumbline Advisers increased its position in Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after buying an additional 8,987 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.