Brokers Issue Forecasts for Fennec Pharmaceuticals Inc’s FY2023 Earnings (NASDAQ:FENC)
Fennec Pharmaceuticals Inc (NASDAQ:FENC – Get Rating) – Equities research analysts at Cantor Fitzgerald issued their FY2023 EPS estimates for Fennec Pharmaceuticals in a note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst C. Duncan anticipates that the company will post earnings per share of ($0.72) for the year.
A number of other research analysts have also recently commented on the company. Zacks Investment Research raised Fennec Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Tuesday, May 31st. Wedbush restated an “outperform” rating on shares of Fennec Pharmaceuticals in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Fennec Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $10.17.
Shares of FENC opened at $5.58 on Thursday. Fennec Pharmaceuticals has a 52-week low of $3.16 and a 52-week high of $6.55. The business’s 50 day moving average price is $5.87 and its two-hundred day moving average price is $5.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 8.96 and a quick ratio of 8.96.
Fennec Pharmaceuticals (NASDAQ:FENC – Get Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14).
Several institutional investors and hedge funds have recently modified their holdings of FENC. Morgan Stanley lifted its stake in Fennec Pharmaceuticals by 6.0% in the 2nd quarter. Morgan Stanley now owns 43,430 shares of the company’s stock worth $316,000 after purchasing an additional 2,453 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Fennec Pharmaceuticals by 11.1% in the third quarter. Geode Capital Management LLC now owns 19,909 shares of the company’s stock worth $187,000 after acquiring an additional 1,983 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Fennec Pharmaceuticals by 23,280.0% in the first quarter. JPMorgan Chase & Co. now owns 16,366 shares of the company’s stock worth $91,000 after acquiring an additional 16,296 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of Fennec Pharmaceuticals by 189.1% during the fourth quarter. Citadel Advisors LLC now owns 14,874 shares of the company’s stock worth $65,000 after purchasing an additional 31,574 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Fennec Pharmaceuticals by 134.8% during the fourth quarter. Bank of America Corp DE now owns 11,383 shares of the company’s stock worth $51,000 after purchasing an additional 6,536 shares in the last quarter. Hedge funds and other institutional investors own 43.62% of the company’s stock.
Fennec Pharmaceuticals Company Profile (Get Rating)
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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