Goldman Sachs Group Begins Coverage on Fennec Pharmaceuticals (FENC)

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Stock analysts at Goldman Sachs Group assumed coverage on shares of Fennec Pharmaceuticals (NASDAQ:FENC) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “buy” rating on the stock.

A number of other analysts also recently issued reports on the stock. Dawson James assumed coverage on shares of Fennec Pharmaceuticals in a report on Thursday. They issued a “buy” rating on the stock. Wedbush lowered their target price 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. ValuEngine downgraded shares of Fennec Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Zacks Investment Research downgraded shares of Fennec Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, HC Wainwright set a $18.00 target price on shares of Fennec Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $16.75.

Shares of NASDAQ FENC traded up $0.08 during midday trading on Thursday, reaching $7.79. The company’s stock had a trading volume of 125,148 shares, compared to its average volume of 80,979. Fennec Pharmaceuticals has a fifty-two week low of $7.17 and a fifty-two week high of $14.99. The company has a market capitalization of $155.25 million, a PE ratio of -16.57 and a beta of -0.76.

Fennec Pharmaceuticals (NASDAQ:FENC) last posted its quarterly earnings data on Monday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04). On average, sell-side analysts predict that Fennec Pharmaceuticals will post -0.5 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning bought a new position in Fennec Pharmaceuticals during the second quarter worth $105,000. Bronfman E.L. Rothschild L.P. bought a new position in Fennec Pharmaceuticals during the second quarter worth $151,000. Schwab Charles Investment Management Inc. bought a new position in Fennec Pharmaceuticals during the second quarter worth $221,000. Bank of New York Mellon Corp bought a new position in Fennec Pharmaceuticals during the second quarter worth $237,000. Finally, Cardinal Capital Management boosted its position in Fennec Pharmaceuticals by 116.4% during the second quarter. Cardinal Capital Management now owns 26,047 shares of the company’s stock worth $272,000 after purchasing an additional 14,010 shares during the period. Institutional investors and hedge funds own 49.78% of the company’s stock.

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.

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Analyst Recommendations for Fennec Pharmaceuticals (NASDAQ:FENC)

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