Fennec Pharmaceuticals (FENC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $13.00 price target.
Ram Selvaraju has given his Buy rating due to a combination of factors, including Fennec Pharmaceuticals’ recent financial performance and strategic market expansions. Despite a slight miss on top-line revenue estimates, the company reported a significantly narrower net loss than anticipated, primarily due to lower operating expenses. This financial performance, coupled with the company’s potential for market expansion into the adolescent and young adult community and adoption by major academic centers, supports a positive outlook.
Additionally, the European commercial rollout of PEDMARQSI, Fennec’s sodium thiosulfate product, is progressing well with positive guidance from NICE and launches in the UK and Germany. The company is also focusing on optimizing PEDMARK’s uptake in the U.S. and exploring opportunities in other international markets like China and Japan. These strategic initiatives, along with a solid cash position, suggest a promising trajectory for Fennec Pharmaceuticals, justifying the Buy rating and a 12-month price target of $13.