Fennec Pharmaceuticals (NASDAQ:FENC) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note released on Tuesday,Benzinga reports. They currently have a $13.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.

Fennec Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ FENC opened at $6.07 on Tuesday. 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 company has a 50-day moving average price of $4.99 and a 200-day moving average price of $5.59. The stock has a market capitalization of $166.74 million, a P/E ratio of -60.70 and a beta of 0.35. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.92.

Insider Buying and Selling

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $6.14, for a total value of $39,351.26. Following the completion of the sale, the director now owns 52,214 shares in the company, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 13,473 shares of company stock worth $73,015. 10.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several institutional investors have recently modified their holdings of FENC. Acadian Asset Management LLC bought a new stake in Fennec Pharmaceuticals during the second quarter worth $49,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at $69,000. Franklin Resources Inc. raised its stake 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 during the period. Rhumbline Advisers raised its position 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 acquiring an additional 8,987 shares during the period. Finally, Barclays PLC boosted its stake in Fennec Pharmaceuticals by 274.3% in the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after acquiring an additional 22,951 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.