Fennec Pharmaceuticals (NASDAQ:FENC) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a report published on Tuesday morning,Benzinga reports. They currently have a $13.00 price target on the stock.

FENC has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and set a $13.00 price objective (down from $14.00) on shares of Fennec Pharmaceuticals in a research note on Thursday, November 7th. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Stock Up 2.0 %

Fennec Pharmaceuticals stock opened at $6.07 on Tuesday. The firm has a 50 day simple moving average of $4.99 and a 200 day simple moving average of $5.59. The company has a current ratio of 7.80, a quick ratio of 7.64 and a debt-to-equity ratio of 9.86. Fennec Pharmaceuticals has a 1-year low of $3.96 and a 1-year high of $11.92. The firm has a market capitalization of $166.74 million, a price-to-earnings ratio of -60.70 and a beta of 0.35.

Insider Transactions 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 stock was sold at an average price of $6.14, for a total transaction of $39,351.26. Following the completion of the transaction, the director now directly owns 52,214 shares in the company, valued at $320,593.96. The trade was a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 13,473 shares of company stock valued at $73,015. 10.98% of the stock is currently owned by company insiders.

Institutional Trading of Fennec Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of FENC. WINTON GROUP Ltd purchased a new position in shares of Fennec Pharmaceuticals during the second quarter worth about $409,000. Advantage Alpha Capital Partners LP bought a new stake in Fennec Pharmaceuticals during the third quarter valued at approximately $264,000. 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 worth $157,000 after buying an additional 22,951 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Fennec Pharmaceuticals by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after buying an additional 20,602 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.