HC Wainwright's Updated Earnings Estimate for Fennec Pharmaceuticals (FENC) in FY2024

On December 17, 2024, HC Wainwright revised its earnings per share (EPS) estimates for Fennec Pharmaceuticals Inc. (NASDAQ:FENC) for the fiscal year 2024. The analyst R. Selvaraju now expects Fennec Pharmaceuticals to report an EPS of ($0.13), a significant drop from the previous forecast of $0.08. Despite this change, HC Wainwright maintains a "Buy" rating for the stock and sets a price target of $13.00. In contrast, the consensus estimate among analysts for Fennec Pharmaceuticals' earnings for the current fiscal year stands at $0.01 per share.

HC Wainwright's new estimates include predictions for the company's earnings in upcoming quarters: for Q4 2024, an EPS of ($0.19); for Q1 2025, an EPS of ($0.20); for Q2 2025, an EPS of ($0.14); for Q3 2025, an EPS of ($0.07); and for Q4 2025, an EPS of $0.01. The overall estimate for FY2025 is ($0.39).

Additional Analyst Insights

Other financial analysts have recently shared their perspectives on Fennec Pharmaceuticals. For instance, Stephens upgraded the company's shares to a "strong-buy" rating in a report published on November 18, 2024. Similarly, Wedbush reaffirmed an "outperform" rating, while also issuing a price target of $13.00 for the company’s stock.

Fennec Pharmaceuticals' Stock Performance

As of Thursday, shares of Fennec Pharmaceuticals opened at $5.99. The company's fifty-day moving average stands at $5.12, and the two-hundred-day moving average is $5.58. Over the past year, the stock has seen a low of $3.96 and a high of $11.92. Presently, Fennec Pharmaceuticals boasts a quick ratio of 7.64, a current ratio of 7.80, and a debt-to-equity ratio of 9.86, with a market capitalization of $164.55 million. The price-to-earnings (P/E) ratio stands at -59.89, and the stock has a beta of 0.35, indicating lower volatility compared to the market.

Insider Transactions

In recent insider activity, Director Chris A. Rallis sold 6,409 shares of Fennec Pharmaceuticals on December 2, 2024, at an average price of $6.14. This transaction totaled approximately $39,351.26, decreasing his ownership of the stock by 10.93%. Post-transaction, Rallis holds 52,214 shares valued at around $320,593.96. Over the past three months, insiders have sold a total of 13,473 shares worth approximately $73,015. Currently, insiders own 10.98% of the company’s stock.

Institutional Investment Activity

Several hedge funds have recently adjusted their positions in Fennec Pharmaceuticals. Acadian Asset Management LLC made a new investment in the company during the second quarter, estimated at about $49,000. The Manufacturers Life Insurance Company also acquired a new stake valued at $69,000 in the same quarter. In a more active move, Franklin Resources Inc. increased its stake by 18.7% during the third quarter, owning 14,799 shares after buying an additional 2,330 shares. Barclays PLC grew its investment significantly by 274.3%, acquiring 31,319 shares valued at $157,000. Rhumbline Advisers also increased its holdings in Fennec Pharmaceuticals by 44.7% in the second quarter, now owning 29,110 shares worth $178,000. Overall, institutional investors currently hold 55.51% of the company’s stock.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing treatments for cancer, particularly in the United States. The company’s lead product candidate is Sodium Thiosulfate, which has completed Phase III clinical trials aimed at preventing hearing loss (ototoxicity) caused by the cancer drug cisplatin in children.

Earnings, FENC, Estimates