HC Wainwright Issues Pessimistic Forecast for FENC Earnings

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Stock analysts at HC Wainwright decreased their FY2024 earnings estimates for Fennec Pharmaceuticals in a research report issued to clients and investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.13) for the year, down from their previous estimate of $0.08. HC Wainwright currently has a “Buy” rating and a $13.00 target price on the stock. The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.19) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.07) EPS, Q4 2025 earnings at $0.01 EPS and FY2025 earnings at ($0.39) EPS.

A number of other equities research analysts have also commented on the stock. Stephens raised shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target (down previously from $14.00) on shares of Fennec Pharmaceuticals in a research report on Thursday, November 7th.

Fennec Pharmaceuticals Stock Performance

NASDAQ FENC opened at $5.84 on Thursday. The company has a market capitalization of $160.42 million, a price-to-earnings ratio of -58.39 and a beta of 0.35. The company has a quick ratio of 7.64, a current ratio of 7.80 and a debt-to-equity ratio of 9.86. Fennec Pharmaceuticals has a twelve month low of $3.96 and a twelve month high of $11.92. The stock has a fifty day simple moving average of $5.09 and a 200 day simple moving average of $5.59.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FENC. Franklin Resources Inc. increased its stake in Fennec Pharmaceuticals by 18.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,799 shares of the company’s stock valued at $74,000 after buying an additional 2,330 shares during the last quarter. Barclays PLC grew its holdings in shares of Fennec Pharmaceuticals by 274.3% in the third quarter. Barclays PLC now owns 31,319 shares of the company’s stock valued at $157,000 after acquiring an additional 22,951 shares in the last quarter. State Street Corp increased its position in shares of Fennec Pharmaceuticals by 2.2% during the third quarter. State Street Corp now owns 328,259 shares of the company’s stock valued at $1,641,000 after acquiring an additional 7,053 shares during the last quarter. Advantage Alpha Capital Partners LP bought a new stake in Fennec Pharmaceuticals during the third quarter worth $264,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Fennec Pharmaceuticals in the second quarter worth $69,000. 55.51% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Chris A. Rallis sold 6,409 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.14, for a total value of $39,351.26. Following the completion of the sale, the director now directly owns 52,214 shares of the company’s stock, valued at approximately $320,593.96. This represents a 10.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 13,473 shares of company stock worth $73,015 in the last quarter. Insiders own 10.98% of the company’s stock.

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.