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

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – HC Wainwright cut their FY2024 earnings per share estimates for shares of Fennec Pharmaceuticals in a report issued on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($0.13) per share for the year, down from their previous forecast of $0.08. HC Wainwright has a “Buy” rating and a $13.00 price target 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.

Several other equities research analysts also recently weighed in on the company. Stephens raised Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th. Wedbush restated an “outperform” rating and set a $13.00 price objective (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.

Fennec Pharmaceuticals Stock Performance

Shares of FENC stock traded up $0.06 during midday trading on Thursday, hitting $5.72. The company had a trading volume of 1,259 shares, compared to its average volume of 118,668. The stock has a market cap of $157.13 million, a price-to-earnings ratio of -57.19 and a beta of 0.35. 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’s 50 day simple moving average is $5.05 and its 200 day simple moving average is $5.59. Fennec Pharmaceuticals has a 52-week low of $3.96 and a 52-week high of $11.92.

Insiders Place Their Bets

In other Fennec Pharmaceuticals news, Director Chris A. Rallis sold 6,409 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $320,593.96. This trade represents a 10.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 13,473 shares of company stock worth $73,015. Company insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Fennec Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in Fennec Pharmaceuticals by 18.7% during the third quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock worth $74,000 after buying an additional 2,330 shares in the last quarter. State Street Corp lifted its position in shares of Fennec Pharmaceuticals by 2.2% during the 3rd quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after acquiring an additional 7,053 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter worth approximately $49,000. Rhumbline Advisers grew its holdings in shares of Fennec Pharmaceuticals by 44.7% in the 2nd 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, The Manufacturers Life Insurance Company purchased a new position in Fennec Pharmaceuticals in the 2nd quarter valued at approximately $69,000. 55.51% of the stock is owned by institutional investors and hedge funds.

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.