Equities Analysts Offer Predictions for FENC Q3 Earnings

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Analysts at Capital One Financial lifted their Q3 2024 earnings per share (EPS) estimates for Fennec Pharmaceuticals in a research report issued on Wednesday, October 16th. Capital One Financial analyst N. Quibria now anticipates that the company will post earnings of ($0.16) per share for the quarter, up from their previous estimate of ($0.18). The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is ($0.07) per share. Capital One Financial also issued estimates for Fennec Pharmaceuticals’ Q4 2024 earnings at ($0.13) EPS and FY2024 earnings at ($0.02) EPS.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.26). Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. The company had revenue of $7.26 million during the quarter, compared to analysts’ expectations of $13.67 million. During the same quarter in the prior year, the firm posted ($0.21) EPS.

A number of other analysts have also recently commented on FENC. Craig Hallum dropped their price target on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective (down from $16.00) on shares of Fennec Pharmaceuticals in a research report on Tuesday, August 13th. Finally, HC Wainwright lowered their price objective on Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd.

Fennec Pharmaceuticals Stock Down 2.4 %

FENC stock opened at $4.54 on Monday. Fennec Pharmaceuticals has a fifty-two week low of $4.09 and a fifty-two week high of $11.92. The business’s 50 day moving average price is $5.18 and its two-hundred day moving average price is $6.69. The company has a debt-to-equity ratio of 9.86, a quick ratio of 7.75 and a current ratio of 8.02. The company has a market capitalization of $124.07 million, a price-to-earnings ratio of 151.33 and a beta of 0.25.

Institutional Investors Weigh In On Fennec Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in Fennec Pharmaceuticals during the 2nd quarter valued at $69,000. WINTON GROUP Ltd purchased a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter worth $409,000. Acadian Asset Management LLC purchased a new stake in shares of Fennec Pharmaceuticals in the 2nd quarter worth $49,000. Rhumbline Advisers increased its stake in shares of Fennec Pharmaceuticals by 44.7% in the 2nd quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after purchasing an additional 8,987 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Fennec Pharmaceuticals by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after purchasing an additional 20,602 shares in the last quarter. 55.51% 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.