Zacks: Brokerages Set $17.50 Target Price for Fennec Pharmaceuticals Inc (FENC)
Shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus price objective of $17.50 for the company and are expecting that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also given Fennec Pharmaceuticals an industry rank of 115 out of 255 based on the ratings given to its competitors.
A number of analysts have issued reports on FENC shares. HC Wainwright set a $18.00 price objective on Fennec Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Fennec Pharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, May 29th. Finally, ValuEngine raised Fennec Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th.
Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Monday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04). sell-side analysts expect that Fennec Pharmaceuticals will post -0.41 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FENC. BlackRock Inc. bought a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at approximately $5,795,000. Opaleye Management Inc. increased its position in shares of Fennec Pharmaceuticals by 8.2% during the 2nd quarter. Opaleye Management Inc. now owns 945,000 shares of the company’s stock valued at $9,865,000 after purchasing an additional 72,000 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at approximately $237,000. Schwab Charles Investment Management Inc. bought a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at approximately $221,000. Finally, Bronfman E.L. Rothschild L.P. bought a new position in shares of Fennec Pharmaceuticals during the 2nd quarter valued at approximately $151,000. 40.85% of the stock is currently owned by hedge funds and other 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.
Featured Story: Find a Trading Strategy That Works
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fennec Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fennec Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.