In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Fennec Pharmaceuticals (FENC – Research Report), with a price target of $14.00. The company’s shares closed last Wednesday at $7.46.
According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 6.6% and a 45.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Protalix Biotherapeutics, EyePoint Pharmaceuticals, and Bausch Health Companies.
Currently, the analyst consensus on Fennec Pharmaceuticals is a Strong Buy with an average price target of $14.33, an 89.1% upside from current levels. In a report issued on May 28, Maxim Group also reiterated a Buy rating on the stock with a $12.00 price target.
Based on Fennec Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.73 million. In comparison, last year the company had a GAAP net loss of $3.83 million.
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Fennec Pharmaceuticals, Inc. operates as a biopharmaceutical company. It engages in the development of sodium thiosulfate for the prevention of ototoxicity from cisplatin in pediatric cancer patients. The company was founded by Orest W. Blaschuk on September 3, 1996 and is headquartered in Durham, NC.