Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Fennec Pharmaceuticals (FENC – Research Report). The associated price target is $15.00.
Jason McCarthy has given his Buy rating due to a combination of factors that highlight Fennec Pharmaceuticals’ growth potential. The company reported a significant increase in revenue for the fourth quarter and the full year, indicating strong financial performance. Despite a net loss, the existing cash reserves are expected to support the company until it reaches profitability, contingent on its growth trajectory.
Fennec’s product, PEDMARK, addresses a critical unmet need by preventing cisplatin-induced hearing loss in pediatric patients. The product’s approval by the FDA and its inclusion in key medical guidelines, such as the National Comprehensive Cancer Network, enhance its market potential. Additionally, the company’s strategic focus on the adolescent and young adult segment, coupled with international expansion efforts, positions it for substantial growth. These factors collectively underpin McCarthy’s optimistic outlook and Buy rating for Fennec Pharmaceuticals.
McCarthy covers the Healthcare sector, focusing on stocks such as Medicus Pharma Ltd, Lipella Pharmaceuticals, Inc., and SELLAS Life Sciences Group. According to TipRanks, McCarthy has an average return of -19.7% and a 24.85% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $13.00 price target.
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