Zacks Investment Research Lowers Fennec Pharmaceuticals (NASDAQ:FENC) to Sell

Zacks Investment Research downgraded shares of Fennec Pharmaceuticals (NASDAQ:FENC) from a hold rating to a sell rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Fennec Pharmaceuticals Inc. is a clinical-stage biotechnology company. It is focused on the development of Sodium Thiosulfate for the prevention of ototoxicity from cisplatin in pediatric patients. The Company’s products include Eniluracil and Sodium Thiosulfate (STS). Fennec Pharmaceuticals Inc., formerly known as Adherex Technologies Inc., is based in United States. “

Several other research firms have also recently weighed in on FENC. Wedbush reiterated an outperform rating and issued a $16.00 price target on shares of Fennec Pharmaceuticals in a report on Friday, May 10th. HC Wainwright set a $17.00 price target on shares of Fennec Pharmaceuticals and gave the company a buy rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Fennec Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $12.50.

Shares of Fennec Pharmaceuticals stock opened at $4.35 on Thursday. Fennec Pharmaceuticals has a 52-week low of $3.26 and a 52-week high of $10.19. The company’s 50 day moving average price is $4.20 and its 200-day moving average price is $4.89.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its earnings results on Friday, August 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). As a group, analysts predict that Fennec Pharmaceuticals will post -0.85 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in FENC. Hartford Financial Management Inc. boosted its holdings in Fennec Pharmaceuticals by 65.0% in the second quarter. Hartford Financial Management Inc. now owns 20,300 shares of the company’s stock valued at $81,000 after acquiring an additional 8,000 shares in the last quarter. Atria Investments LLC bought a new stake in Fennec Pharmaceuticals in the second quarter valued at $215,000. Paloma Partners Management Co bought a new stake in shares of Fennec Pharmaceuticals during the 2nd quarter valued at $218,000. Geode Capital Management LLC boosted its holdings in shares of Fennec Pharmaceuticals by 16.0% during the 4th quarter. Geode Capital Management LLC now owns 39,489 shares of the company’s stock valued at $251,000 after buying an additional 5,441 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in shares of Fennec Pharmaceuticals by 32.1% during the 2nd quarter. United Services Automobile Association now owns 229,983 shares of the company’s stock valued at $920,000 after buying an additional 55,933 shares in the last quarter. Institutional investors and hedge funds own 45.11% 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.

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