Cantor Fitzgerald Upgrades Fennec Pharmaceuticals (NASDAQ:FENC) to Overweight

Cantor Fitzgerald upgraded shares of Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) from a neutral rating to an overweight rating in a research report released on Monday, The Fly reports. Cantor Fitzgerald currently has $12.00 price target on the stock, up from their previous price target of $9.00. Cantor Fitzgerald also issued estimates for Fennec Pharmaceuticals’ FY2022 earnings at ($0.91) EPS and FY2023 earnings at ($0.78) EPS.

A number of other equities analysts have also commented on FENC. Craig Hallum reiterated a buy rating and set a $14.00 price target on shares of Fennec Pharmaceuticals in a report on Monday, August 8th. HC Wainwright upped their price target on Fennec Pharmaceuticals from $14.00 to $18.00 and gave the company a buy rating in a research report on Thursday, October 20th. Maxim Group increased their price target on Fennec Pharmaceuticals from $10.00 to $15.00 in a research note on Thursday, September 29th. Capital One Financial started coverage on shares of Fennec Pharmaceuticals in a research report on Wednesday, September 7th. They set an overweight rating and a $11.00 target price for the company. Finally, Wedbush boosted their price target on shares of Fennec Pharmaceuticals from $11.00 to $19.00 in a research report on Monday, September 26th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $14.83.

Fennec Pharmaceuticals Price Performance

Fennec Pharmaceuticals stock opened at $9.51 on Monday. The stock has a 50-day moving average price of $8.13 and a two-hundred day moving average price of $6.91. Fennec Pharmaceuticals has a 12 month low of $3.82 and a 12 month high of $9.87. The company has a market capitalization of $249.54 million and a PE ratio of -11.60. The company has a current ratio of 10.30, a quick ratio of 10.30 and a debt-to-equity ratio of 8.81.

Fennec Pharmaceuticals (NASDAQ:FENCGet Rating) last issued its quarterly earnings data on Friday, November 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.14). Analysts expect that Fennec Pharmaceuticals will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Fennec Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. UBS Group AG increased its stake in shares of Fennec Pharmaceuticals by 4,742.2% in the 3rd quarter. UBS Group AG now owns 3,099 shares of the company’s stock valued at $26,000 after acquiring an additional 3,035 shares in the last quarter. Hartford Financial Management Inc. increased its stake in Fennec Pharmaceuticals by 14.3% in the third quarter. Hartford Financial Management Inc. now owns 39,848 shares of the company’s stock valued at $323,000 after purchasing an additional 5,000 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Fennec Pharmaceuticals during the third quarter valued at about $118,000. JPMorgan Chase & Co. boosted its position in shares of Fennec Pharmaceuticals by 23,280.0% during the 1st quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock worth $91,000 after purchasing an additional 16,296 shares in the last quarter. Finally, DG Capital Management LLC boosted its position in shares of Fennec Pharmaceuticals by 4.4% during the 1st quarter. DG Capital Management LLC now owns 1,210,638 shares of the company’s stock worth $6,780,000 after purchasing an additional 51,249 shares in the last quarter. 43.29% of the stock is owned by institutional investors and hedge funds.

Fennec Pharmaceuticals Company Profile

(Get Rating)

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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Analyst Recommendations for Fennec Pharmaceuticals (NASDAQ:FENC)

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