What is HC Wainwright’s Estimate for FENC FY2024 Earnings?

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – HC Wainwright lowered their FY2024 earnings per share estimates for Fennec Pharmaceuticals in a research report issued on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($0.13) for the year, down from their prior estimate of $0.08. HC Wainwright has a “Buy” rating and a $13.00 price objective on the stock. The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.19) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at ($0.39) EPS.

A number of other research analysts have also weighed in on FENC. Stephens raised shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Friday.

Fennec Pharmaceuticals Price Performance

Shares of FENC opened at $5.99 on Thursday. The business’s fifty day moving average is $5.12 and its 200 day moving average is $5.58. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.92. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. The stock has a market cap of $164.55 million, a P/E ratio of -59.89 and a beta of 0.35.

Insider Activity at Fennec Pharmaceuticals

In related news, Director Chris A. Rallis sold 6,409 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.14, for a total transaction of $39,351.26. Following the transaction, the director now directly owns 52,214 shares in the company, valued at approximately $320,593.96. The trade was a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 13,473 shares of company stock valued at $73,015. 10.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several hedge funds have recently modified their holdings of FENC. Acadian Asset Management LLC purchased a new position in shares of Fennec Pharmaceuticals in the 2nd quarter worth approximately $49,000. The Manufacturers Life Insurance Company bought a new stake in Fennec Pharmaceuticals during the second quarter worth $69,000. Franklin Resources Inc. boosted its position in Fennec Pharmaceuticals by 18.7% in the third 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 last quarter. Barclays PLC grew its stake in 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 purchasing an additional 22,951 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Fennec Pharmaceuticals by 44.7% during the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock valued at $178,000 after purchasing an additional 8,987 shares during the last quarter. 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.