The Manufacturers Life Insurance Company Buys Shares of 11,310 Fennec Pharmaceuticals Inc (NASDAQ:FENC)

The Manufacturers Life Insurance Company bought a new position in shares of Fennec Pharmaceuticals Inc (NASDAQ:FENC) in the 2nd quarter, HoldingsChannel reports. The fund bought 11,310 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors have also made changes to their positions in FENC. Essex Investment Management Co. LLC purchased a new position in shares of Fennec Pharmaceuticals during the 1st quarter worth approximately $1,604,000. WINTON GROUP Ltd purchased a new stake in Fennec Pharmaceuticals in the second quarter valued at approximately $409,000. Russell Investments Group Ltd. lifted its stake in Fennec Pharmaceuticals by 71,275.0% during the first quarter. Russell Investments Group Ltd. now owns 34,260 shares of the company’s stock worth $381,000 after purchasing an additional 34,212 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Fennec Pharmaceuticals by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 68,724 shares of the company’s stock worth $420,000 after buying an additional 20,602 shares during the period. Finally, Gendell Jeffrey L grew its stake in shares of Fennec Pharmaceuticals by 7.1% in the first quarter. Gendell Jeffrey L now owns 302,478 shares of the company’s stock valued at $3,364,000 after buying an additional 20,000 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FENC has been the topic of several research reports. Craig Hallum decreased their target price on Fennec Pharmaceuticals from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Wedbush reissued an “outperform” rating and set a $14.00 price target (down previously from $16.00) on shares of Fennec Pharmaceuticals in a research report on Tuesday, August 13th. Finally, HC Wainwright lowered their price objective on shares of Fennec Pharmaceuticals from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd.

Fennec Pharmaceuticals Stock Up 2.6 %

Fennec Pharmaceuticals stock opened at $4.66 on Tuesday. The firm has a market capitalization of $127.35 million, a P/E ratio of 155.33 and a beta of 0.25. The stock’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $6.64. Fennec Pharmaceuticals Inc has a twelve month low of $4.09 and a twelve month high of $11.92. The company has a current ratio of 8.02, a quick ratio of 7.75 and a debt-to-equity ratio of 9.86.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.26). The company had revenue of $7.26 million for the quarter, compared to analysts’ expectations of $13.67 million. Fennec Pharmaceuticals had a negative return on equity of 53.38% and a net margin of 5.59%. During the same quarter last year, the company earned ($0.21) EPS. As a group, equities analysts expect that Fennec Pharmaceuticals Inc will post -0.07 earnings per share for the current fiscal year.

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.