Craig Hallum Trims Fennec Pharmaceuticals (NASDAQ:FENC) Target Price to $15.00

Fennec Pharmaceuticals (NASDAQ:FENC) had its price objective reduced by equities researchers at Craig Hallum from $17.00 to $15.00 in a report released 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 156.41% from the stock’s previous close.

Several other research analysts also recently commented on the company. Wedbush reissued an “outperform” rating and set a $14.00 target price (down previously from $16.00) on shares of Fennec Pharmaceuticals in a research note on Tuesday. HC Wainwright lowered their price objective on shares of Fennec Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th.

Fennec Pharmaceuticals Stock Down 6.4 %

FENC opened at $5.85 on Wednesday. The company has a debt-to-equity ratio of 9.86, a quick ratio of 6.72 and a current ratio of 6.93. The company has a market capitalization of $159.87 million, a P/E ratio of 195.00 and a beta of 0.29. Fennec Pharmaceuticals has a fifty-two week low of $5.30 and a fifty-two week high of $11.92. The stock has a fifty day moving average of $6.37 and a 200-day moving average of $8.35.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its earnings results on Tuesday, May 14th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.08). Fennec Pharmaceuticals had a negative return on equity of 39.41% and a net margin of 6.33%. The company had revenue of $25.38 million for the quarter, compared to analyst estimates of $10.46 million. During the same period last year, the company posted ($0.23) earnings per share. On average, equities analysts expect that Fennec Pharmaceuticals will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC acquired a new position in shares of Fennec Pharmaceuticals in the first quarter worth approximately $1,604,000. Eudaimonia Advisors LLC lifted its position in shares of Fennec Pharmaceuticals by 90.8% in the 4th quarter. Eudaimonia Advisors LLC now owns 32,686 shares of the company’s stock worth $367,000 after purchasing an additional 15,556 shares during the period. Jump Financial LLC bought a new stake in shares of Fennec Pharmaceuticals in the 4th quarter valued at $158,000. Russell Investments Group Ltd. increased its position in shares of Fennec Pharmaceuticals by 71,275.0% during the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after buying an additional 34,212 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Fennec Pharmaceuticals by 67.7% in the first quarter. BNP Paribas Financial Markets now owns 32,769 shares of the company’s stock valued at $364,000 after buying an additional 13,223 shares during the period. 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.