Fennec Pharmaceuticals (NASDAQ:FENC) Earns Outperform Rating from Wedbush

Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Wedbush in a research note issued on Monday,RTT News reports. They currently have a $13.00 price objective on the stock. Wedbush's target price points to a potential upside of 112.77% from the company's previous close.Get Fennec Pharmaceuticals alerts:Several other analysts have also issued reports on FENC. HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Fennec Pharmaceuticals in a research note on Tuesday, December 17th. Stephens upgraded Fennec Pharmaceuticals to a "strong-buy" rating in a research note on Monday, November 18th.View Our Latest Stock Analysis on Fennec PharmaceuticalsFennec Pharmaceuticals Stock PerformanceNASDAQ:FENC traded down $0.77 on Monday, hitting $6.11. The stock had a trading volume of 187,467 shares, compared to its average volume of 111,607. Fennec Pharmaceuticals has a 1 year low of $3.96 and a 1 year high of $11.49. The firm's fifty day simple moving average is $6.39 and its two-hundred day simple moving average is $5.61. The stock has a market cap of $168.40 million, a P/E ratio of -61.09 and a beta of 0.36. Fennec Pharmaceuticals (NASDAQ:FENC - Get Free Report) last announced its earnings results on Monday, March 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.62). Fennec Pharmaceuticals had a negative net margin of 2.30% and a negative return on equity of 53.38%. Equities research analysts predict that Fennec Pharmaceuticals will post -0.11 EPS for the current year. Insiders Place Their BetsIn related news, Director Rosty Raykov sold 10,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.79, for a total value of $67,900.00. Following the completion of the transaction, the director now directly owns 68,725 shares in the company, valued at approximately $466,642.75. The trade was a 12.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 31,186 shares of company stock valued at $203,389 in the last quarter. Corporate insiders own 10.98% of the company's stock. Institutional Investors Weigh In On Fennec PharmaceuticalsSeveral hedge funds have recently added to or reduced their stakes in FENC. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Fennec Pharmaceuticals in the 4th quarter valued at $97,000. Bank of America Corp DE boosted its position in Fennec Pharmaceuticals by 32.1% during the fourth quarter. Bank of America Corp DE now owns 35,827 shares of the company's stock valued at $226,000 after buying an additional 8,703 shares during the period. BNP Paribas Financial Markets boosted its position in Fennec Pharmaceuticals by 11.5% during the fourth quarter. BNP Paribas Financial Markets now owns 44,626 shares of the company's stock valued at $282,000 after buying an additional 4,610 shares during the period. Solas Capital Management LLC grew its stake in shares of Fennec Pharmaceuticals by 17.0% during 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 during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of Fennec Pharmaceuticals in the fourth quarter worth about $99,000. Institutional investors own 55.51% of the company's stock. About Fennec Pharmaceuticals (Get Free Report)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.See AlsoFive stocks we like better than Fennec PharmaceuticalsStock Trading Terms - Stock Terms Every Investor Needs to KnowHow to Protect Your Portfolio When Inflation Is RisingStock Ratings and Recommendations: Understanding Analyst Ratings3 Tech Stocks Defying Sector Weakness and Thriving in 2025High Flyers: 3 Natural Gas Stocks for March 2022Despite Challenges Novo Nordisk Plans to Crush GLP-1 CompetitorsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Fennec Pharmaceuticals Right Now?Before you consider Fennec Pharmaceuticals, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fennec Pharmaceuticals wasn't on the list.While Fennec Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here