Fennec Pharmaceuticals (NASDAQ:FENC) Price Target Raised to $13.00 at Craig Hallum

Fennec Pharmaceuticals (NASDAQ:FENC) had its price objective raised by equities research analysts at Craig Hallum from $12.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s target price would indicate a potential upside of 98.47% from the company’s previous close.

FENC has been the subject of several other reports. Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Monday, March 10th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Fennec Pharmaceuticals in a research report on Tuesday, March 11th.

Fennec Pharmaceuticals Trading Up 3.5%

Shares of NASDAQ:FENC opened at $6.55 on Wednesday. The company has a market capitalization of $180.74 million, a price-to-earnings ratio of -65.49 and a beta of 0.32. Fennec Pharmaceuticals has a 12 month low of $3.96 and a 12 month high of $7.64. The firm’s 50-day moving average is $5.90 and its 200 day moving average is $5.91.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The company had revenue of $8.51 million for the quarter, compared to the consensus estimate of $8.18 million. Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities analysts forecast that Fennec Pharmaceuticals will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Rosty Raykov sold 10,000 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $5.25, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 61,156 shares in the company, valued at approximately $321,069. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 30,000 shares of company stock valued at $183,500 in the last three months. Company insiders own 11.76% of the company’s stock.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC bought a new position in shares of Fennec Pharmaceuticals during the fourth quarter valued at approximately $69,000. Wells Fargo & Company MN boosted its stake in shares of Fennec Pharmaceuticals by 31.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,152 shares of the company’s stock valued at $83,000 after purchasing an additional 3,155 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Fennec Pharmaceuticals during the fourth quarter valued at approximately $97,000. MetLife Investment Management LLC bought a new position in shares of Fennec Pharmaceuticals during the fourth quarter valued at approximately $99,000. Finally, Barclays PLC boosted its stake in shares of Fennec Pharmaceuticals by 274.3% during the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after purchasing an additional 22,951 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

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.