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Fennec price target lowered to $17 from $20 at Craig-Hallum

Craig-Hallum analyst Chase Knickerbocker lowered the firm’s price target on Fennec to $17 from $20 and keeps a Buy rating on the shares. The firm notes Fennec delivered a slower quarter than expected, with Pedmark revenues of $7.4M vs Street’s $10.2M. Craig-Hallum’s biggest takeaways from the quarter include slower Pediatric growth until the compounding issue is addressed, and FENC shifting focus onto AYA, where incentives are aligned from a reimbursement perspective.

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