Fennec Pharmaceuticals (FENC) Receives New Coverage from Analysts at Wedbush

Analysts at Wedbush started coverage on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research note issued on Monday, Marketbeat.com reports. The firm set an “outperform” rating and a $17.00 price target on the stock. Wedbush’s price objective points to a potential upside of 83.39% from the stock’s current price.

Several other equities research analysts have also commented on FENC. Laidlaw initiated coverage on Fennec Pharmaceuticals in a research note on Wednesday, November 29th. They set a “buy” rating and a $22.00 price objective for the company. HC Wainwright initiated coverage on Fennec Pharmaceuticals in a research note on Tuesday, February 20th. They set a “buy” rating and a $16.00 price objective for the company. Finally, ValuEngine upgraded Fennec Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd.

Fennec Pharmaceuticals (NASDAQ FENC) traded down $0.13 during midday trading on Monday, reaching $9.27. The company had a trading volume of 62,628 shares, compared to its average volume of 21,692. The firm has a market cap of $149.67, a PE ratio of -23.18 and a beta of 0.09. Fennec Pharmaceuticals has a 12 month low of $7.55 and a 12 month high of $13.95.

In other news, major shareholder Spa Essetifin acquired 294,115 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was bought at an average cost of $8.50 per share, for a total transaction of $2,499,977.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 10.70% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Cardinal Capital Management purchased a new stake in Fennec Pharmaceuticals during the 4th quarter worth approximately $120,000. Opaleye Management Inc. purchased a new stake in shares of Fennec Pharmaceuticals in the fourth quarter valued at approximately $8,486,000. Finally, 683 Capital Management LLC grew its position in shares of Fennec Pharmaceuticals by 7.3% in the fourth quarter. 683 Capital Management LLC now owns 867,185 shares of the company’s stock valued at $8,689,000 after purchasing an additional 58,820 shares in the last quarter. Institutional investors own 44.94% of the company’s stock.

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Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc, formerly Adherex Technologies Inc, is a biopharmaceutical company focused on cancer therapeutics. The Company’s lead product candidate in the clinical stage of development includes Sodium Thiosulfate (STS), which has completed patient enrollment of over two Phase III clinical trials for the prevention of cisplatin induced hearing loss, or ototoxicity in children.

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