Fennec Pharmaceuticals (NASDAQ:FENC) Posts Earnings Results, Misses Estimates By $0.62 EPS

Fennec Pharmaceuticals (NASDAQ:FENC) issued its earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.62), Zacks reports. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a negative net margin of 2.30%.

Fennec Pharmaceuticals Stock Performance

Shares of FENC stock opened at $6.88 on Monday. Fennec Pharmaceuticals has a fifty-two week low of $3.96 and a fifty-two week high of $11.49. The stock has a 50 day moving average price of $6.39 and a two-hundred day moving average price of $5.61. The company has a market capitalization of $189.63 million, a P/E ratio of -68.79 and a beta of 0.36.

Analyst Ratings Changes

FENC has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a report on Tuesday, December 17th. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Fennec Pharmaceuticals in a research note on Friday, December 20th. Finally, Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 18th.

Insider Buying and Selling

In related news, Director Rosty Raykov sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $6.08, for a total transaction of $60,800.00. Following the transaction, the director now owns 83,863 shares in the company, valued at $509,887.04. The trade was a 10.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 31,186 shares of company stock valued at $203,389 over the last three months. 10.98% of the stock is owned by company insiders.

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.