Brokerages Expect Fennec Pharmaceuticals Inc (NASDAQ:FENC) Will Announce Earnings of -$0.18 Per Share

Brokerages forecast that Fennec Pharmaceuticals Inc (NASDAQ:FENC) will post ($0.18) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Fennec Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.19) and the highest estimate coming in at ($0.16). Fennec Pharmaceuticals reported earnings of ($0.24) per share during the same quarter last year, which would suggest a positive year over year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Monday, November 15th.

On average, analysts expect that Fennec Pharmaceuticals will report full-year earnings of $0.57 per share for the current fiscal year, with EPS estimates ranging from ($0.74) to $3.11. For the next year, analysts expect that the business will report earnings of ($0.03) per share, with EPS estimates ranging from ($0.47) to $0.20. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Fennec Pharmaceuticals.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04.

Several equities analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating on shares of Fennec Pharmaceuticals in a research note on Thursday, June 24th. Maxim Group reissued a “buy” rating and issued a $12.00 target price on shares of Fennec Pharmaceuticals in a research note on Friday, May 28th. Finally, Zacks Investment Research raised Fennec Pharmaceuticals from a “sell” rating to a “hold” rating and set a $8.00 price target on the stock in a report on Wednesday, August 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.75.

FENC stock traded down $0.01 during midday trading on Friday, hitting $9.39. The company had a trading volume of 50,583 shares, compared to its average volume of 109,993. The company has a current ratio of 33.11, a quick ratio of 33.11 and a debt-to-equity ratio of 0.22. Fennec Pharmaceuticals has a 52 week low of $5.57 and a 52 week high of $9.55. The stock’s 50 day moving average price is $7.52 and its 200 day moving average price is $7.02. The stock has a market cap of $244.21 million, a price-to-earnings ratio of -13.41 and a beta of 0.07.

A number of hedge funds and other institutional investors have recently modified their holdings of FENC. Virtu Financial LLC purchased a new position in Fennec Pharmaceuticals during the 1st quarter worth $74,000. Advisor Group Holdings Inc. lifted its holdings in shares of Fennec Pharmaceuticals by 359.9% in the 2nd quarter. Advisor Group Holdings Inc. now owns 12,370 shares of the company’s stock valued at $90,000 after buying an additional 9,680 shares during the period. Barclays PLC lifted its holdings in shares of Fennec Pharmaceuticals by 159.0% in the 1st quarter. Barclays PLC now owns 18,194 shares of the company’s stock valued at $113,000 after buying an additional 11,170 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Fennec Pharmaceuticals by 137.0% in the 1st quarter. JPMorgan Chase & Co. now owns 22,914 shares of the company’s stock valued at $142,000 after buying an additional 13,244 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Fennec Pharmaceuticals in the 2nd quarter worth about $148,000. 46.45% of the stock is 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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Earnings History and Estimates for Fennec Pharmaceuticals (NASDAQ:FENC)

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