Equities analysts predict that Fennec Pharmaceuticals Inc (NASDAQ:FENC) will post ($0.11) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Fennec Pharmaceuticals’ earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.12). Fennec Pharmaceuticals also posted earnings of ($0.11) per share in the same quarter last year. The business is scheduled to report its next quarterly earnings results on Friday, August 10th.
According to Zacks, analysts expect that Fennec Pharmaceuticals will report full-year earnings of ($0.45) per share for the current fiscal year, with EPS estimates ranging from ($0.47) to ($0.42). For the next year, analysts forecast that the firm will report earnings of $0.10 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Fennec Pharmaceuticals.
Fennec Pharmaceuticals (NASDAQ:FENC) last posted its earnings results on Monday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03.
FENC has been the topic of several analyst reports. Wedbush initiated coverage on Fennec Pharmaceuticals in a research note on Monday, March 12th. They issued an “outperform” rating and a $17.00 target price on the stock. HC Wainwright initiated coverage on Fennec Pharmaceuticals in a research note on Tuesday, February 20th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, ValuEngine upgraded Fennec Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd.
In other news, major shareholder Manchester Management Pr, Llc sold 914,745 shares of the business’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $10.61, for a total transaction of $9,705,444.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.88% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Cardinal Capital Management purchased a new stake in shares of Fennec Pharmaceuticals during the fourth quarter worth about $120,000. Opaleye Management Inc. grew its stake in shares of Fennec Pharmaceuticals by 3.1% during the first quarter. Opaleye Management Inc. now owns 873,000 shares of the company’s stock worth $10,559,000 after acquiring an additional 26,100 shares during the last quarter. Finally, 683 Capital Management LLC grew its stake in shares of Fennec Pharmaceuticals by 7.3% during the fourth quarter. 683 Capital Management LLC now owns 867,185 shares of the company’s stock worth $8,689,000 after acquiring an additional 58,820 shares during the last quarter. Institutional investors and hedge funds own 41.23% of the company’s stock.
Fennec Pharmaceuticals traded down $0.42, hitting $10.69, on Thursday, according to MarketBeat.com. The company had a trading volume of 73,352 shares, compared to its average volume of 57,512. Fennec Pharmaceuticals has a 12-month low of $7.55 and a 12-month high of $14.99. The firm has a market capitalization of $204.93 million, a PE ratio of -23.05 and a beta of -0.26.
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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