Q1 2023 EPS Estimates for Fennec Pharmaceuticals Inc (NASDAQ:FENC) Reduced by HC Wainwright

Posted by Defense World Staff on Apr 7th, 2023

Fennec Pharmaceuticals Inc (NASDAQ:FENC – Get Rating) – Stock analysts at HC Wainwright lowered their Q1 2023 earnings per share estimates for shares of Fennec Pharmaceuticals in a report released on Tuesday, April 4th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($0.20) per share for the quarter, down from their previous forecast of ($0.17). HC Wainwright has a “Buy” rating and a $18.00 price objective on the stock. The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is ($0.46) per share. HC Wainwright also issued estimates for Fennec Pharmaceuticals’ Q3 2023 earnings at ($0.03) EPS and Q4 2023 earnings at $0.03 EPS.

Fennec Pharmaceuticals (NASDAQ:FENC – Get Rating) last issued its quarterly earnings data on Thursday, March 30th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02).

Separately, Cantor Fitzgerald raised their target price on Fennec Pharmaceuticals from $12.00 to $16.00 in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Fennec Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $15.50.

Fennec Pharmaceuticals Stock Performance

FENC opened at $8.49 on Thursday. The firm has a market capitalization of $224.22 million, a P/E ratio of -9.43 and a beta of 0.16. The stock’s 50 day moving average price is $8.96 and its two-hundred day moving average price is $8.97. The company has a quick ratio of 5.67, a current ratio of 5.80 and a debt-to-equity ratio of 8.81. Fennec Pharmaceuticals has a 12-month low of $5.00 and a 12-month high of $10.85.

Institutional Trading of Fennec Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. UBS Group AG lifted its position in shares of Fennec Pharmaceuticals by 4,742.2% in the 3rd quarter. UBS Group AG now owns 3,099 shares of the company’s stock worth $26,000 after acquiring an additional 3,035 shares during the period. Ancora Advisors LLC lifted its position in shares of Fennec Pharmaceuticals by 69.0% in the 4th quarter. Ancora Advisors LLC now owns 12,245 shares of the company’s stock worth $118,000 after acquiring an additional 5,000 shares during the period. Hartford Financial Management Inc. lifted its position in shares of Fennec Pharmaceuticals by 14.3% in the 3rd quarter. Hartford Financial Management Inc. now owns 39,848 shares of the company’s stock worth $323,000 after acquiring an additional 5,000 shares during the period. Barclays PLC bought a new stake in shares of Fennec Pharmaceuticals in the 4th quarter worth approximately $89,000. Finally, Morgan Stanley lifted its position in shares of Fennec Pharmaceuticals by 25.8% during the 4th quarter. Morgan Stanley now owns 45,376 shares of the company’s stock worth $436,000 after buying an additional 9,314 shares during the period. Institutional investors own 43.34% of the company’s stock.

Fennec Pharmaceuticals Company Profile

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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.