HC Wainwright Reiterates Buy Rating for Fennec Pharmaceuticals (NASDAQ:FENC)

Fennec Pharmaceuticals (NASDAQ:FENC)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 112.77% from the stock’s current price.

A number of other equities research analysts also recently issued reports on FENC. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Fennec Pharmaceuticals in a research report on Monday. Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th.

Fennec Pharmaceuticals Stock Down 11.2 %

NASDAQ FENC opened at $6.11 on Tuesday. The firm has a 50-day moving average price of $6.39 and a two-hundred day moving average price of $5.61. Fennec Pharmaceuticals has a 12-month low of $3.96 and a 12-month high of $11.49. The company has a market capitalization of $168.40 million, a P/E ratio of -61.09 and a beta of 0.36.

Insider Activity at Fennec Pharmaceuticals

In other Fennec Pharmaceuticals news, Director Rosty Raykov sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $6.66, for a total value of $66,600.00. Following the sale, the director now owns 76,294 shares of the company’s stock, valued at approximately $508,118.04. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 31,186 shares of company stock valued at $203,389 over the last three months. 10.98% of the stock is owned by insiders.

Institutional Trading of Fennec Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Rosalind Advisors Inc. bought a new position in shares of Fennec Pharmaceuticals in the fourth quarter worth about $7,962,000. Solas Capital Management LLC boosted its position in Fennec Pharmaceuticals by 17.0% in the fourth quarter. Solas Capital Management LLC now owns 2,250,919 shares of the company’s stock valued at $14,226,000 after buying an additional 327,383 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Fennec Pharmaceuticals in the third quarter valued at approximately $264,000. Clayton Partners LLC bought a new stake in shares of Fennec Pharmaceuticals during the fourth quarter worth $256,000. Finally, Barclays PLC increased its holdings in shares of Fennec Pharmaceuticals by 274.3% during the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock worth $157,000 after buying an additional 22,951 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

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.