Fennec Pharmaceuticals Inc (NASDAQ:FENC) Expected to Earn Q2 2024 Earnings of ($0.17) Per Share

Fennec Pharmaceuticals Inc (NASDAQ:FENC) – Capital One Financial dropped their Q2 2024 earnings estimates for Fennec Pharmaceuticals in a report released on Monday, August 5th. Capital One Financial analyst N. Quibria now anticipates that the company will post earnings per share of ($0.17) for the quarter, down from their prior estimate of ($0.15). The consensus estimate for Fennec Pharmaceuticals’ current full-year earnings is $0.36 per share. Capital One Financial also issued estimates for Fennec Pharmaceuticals’ Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.07) EPS and FY2024 earnings at $0.06 EPS.

Fennec Pharmaceuticals (NASDAQ:FENC) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.08). Fennec Pharmaceuticals had a net margin of 6.33% and a negative return on equity of 39.41%. The firm had revenue of $25.38 million during the quarter, compared to analysts’ expectations of $10.46 million. During the same period in the previous year, the firm posted ($0.23) EPS.

Several other brokerages also recently weighed in on FENC. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of Fennec Pharmaceuticals in a research note on Tuesday, May 14th. Craig Hallum decreased their price target on shares of Fennec Pharmaceuticals from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, HC Wainwright decreased their price target on shares of Fennec Pharmaceuticals from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th.

Fennec Pharmaceuticals Price Performance

Fennec Pharmaceuticals stock opened at $5.93 on Thursday. The company’s 50 day simple moving average is $6.40 and its 200-day simple moving average is $8.43. The company has a market capitalization of $162.06 million, a price-to-earnings ratio of 199.00 and a beta of 0.29. Fennec Pharmaceuticals has a 1 year low of $5.41 and a 1 year high of $11.92. The company has a debt-to-equity ratio of 9.86, a quick ratio of 6.72 and a current ratio of 6.93.

Institutional Investors Weigh In On Fennec Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Fennec Pharmaceuticals by 107.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,048 shares of the company’s stock valued at $34,000 after purchasing an additional 1,578 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Fennec Pharmaceuticals in the second quarter worth $49,000. Jump Financial LLC bought a new stake in shares of Fennec Pharmaceuticals in the fourth quarter worth $158,000. Rhumbline Advisers increased its stake in shares of Fennec Pharmaceuticals by 44.7% in the second quarter. Rhumbline Advisers now owns 29,110 shares of the company’s stock worth $178,000 after buying an additional 8,987 shares during the last quarter. Finally, Eudaimonia Advisors LLC increased its stake in shares of Fennec Pharmaceuticals by 90.8% in the fourth quarter. Eudaimonia Advisors LLC now owns 32,686 shares of the company’s stock worth $367,000 after buying an additional 15,556 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.