Analysts Anticipate Fennec Pharmaceuticals Inc (FENC) to Announce ($0.10) EPS

Fennec Pharmaceuticals Inc (NASDAQ:FENC) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price target of $17.50 for the company and are expecting that the company will post ($0.10) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Fennec Pharmaceuticals an industry rank of 162 out of 255 based on the ratings given to related companies.

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Several research firms recently issued reports on FENC. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Fennec Pharmaceuticals in a research report on Wednesday, June 20th. Zacks Investment Research lowered shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 30th. ValuEngine raised shares of Fennec Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Finally, Wedbush began coverage on shares of Fennec Pharmaceuticals in a research report on Monday, March 12th. They issued an “outperform” rating and a $17.00 price target for the company.

Fennec Pharmaceuticals traded down $0.48, hitting $10.35, during mid-day trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 134,706 shares, compared to its average volume of 78,135. Fennec Pharmaceuticals has a fifty-two week low of $7.55 and a fifty-two week high of $14.99. The firm has a market capitalization of $195.82 million, a PE ratio of -22.89 and a beta of -0.24.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings results on Monday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. equities research analysts expect that Fennec Pharmaceuticals will post -0.41 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Fennec Pharmaceuticals stock. Opaleye Management Inc. grew its position in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 873,000 shares of the company’s stock after buying an additional 26,100 shares during the quarter. Fennec Pharmaceuticals makes up about 3.0% of Opaleye Management Inc.’s investment portfolio, making the stock its 9th biggest position. Opaleye Management Inc. owned 4.72% of Fennec Pharmaceuticals worth $10,559,000 at the end of the most recent reporting period. 41.05% of the stock is currently 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.

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