Fennec Pharmaceuticals Inc (NASDAQ:FENC) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus price target of $17.00 for the company and are forecasting that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also given Fennec Pharmaceuticals an industry rank of 84 out of 255 based on the ratings given to related companies.

A number of equities research analysts have commented on FENC shares. HC Wainwright set a $18.00 price objective on shares of Fennec Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 14th. ValuEngine lowered shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Wedbush decreased their price objective on shares of Fennec Pharmaceuticals from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, September 17th. Finally, Zacks Investment Research lowered shares of Fennec Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th.

NASDAQ:FENC traded down $0.28 during mid-day trading on Friday, reaching $7.91. 117,911 shares of the company were exchanged, compared to its average volume of 80,291. Fennec Pharmaceuticals has a 12 month low of $7.55 and a 12 month high of $14.99. The firm has a market cap of $155.25 million, a P/E ratio of -16.83 and a beta of -0.76.

Fennec Pharmaceuticals (NASDAQ:FENC) last issued its quarterly earnings data on Monday, August 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). As a group, analysts expect that Fennec Pharmaceuticals will post -0.5 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning bought a new position in shares of Fennec Pharmaceuticals in the 2nd quarter valued at about $105,000. Bronfman E.L. Rothschild L.P. bought a new position in shares of Fennec Pharmaceuticals in the 2nd quarter valued at about $151,000. Schwab Charles Investment Management Inc. bought a new position in shares of Fennec Pharmaceuticals in the 2nd quarter valued at about $221,000. Bank of New York Mellon Corp bought a new position in shares of Fennec Pharmaceuticals in the 2nd quarter valued at about $237,000. Finally, Cardinal Capital Management boosted its stake in shares of Fennec Pharmaceuticals by 116.4% in the 2nd quarter. Cardinal Capital Management now owns 26,047 shares of the company’s stock valued at $272,000 after purchasing an additional 14,010 shares during the last quarter. 49.78% of the stock is currently owned by institutional investors.

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.

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