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Fennec Pharmaceuticals ( (TSE:FRX) ) has issued an announcement.
Southpoint Capital Advisors LP has reduced its stake in Fennec Pharmaceuticals Inc., selling 1 million common shares at USD$7.50 each, a block representing about 2.93% of Fennec’s fully diluted outstanding shares. Following the transaction, Southpoint now controls roughly 2.7 million common shares, or about 8% of Fennec’s fully diluted share base, and indicated that its holdings may continue to change over time based on market conditions and other factors, signaling potential ongoing institutional trading activity in the stock.
The most recent analyst rating on (TSE:FRX) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Fennec Pharmaceuticals stock, see the TSE:FRX Stock Forecast page.
Spark’s Take on TSE:FRX Stock
According to Spark, TipRanks’ AI Analyst, TSE:FRX is a Neutral.
Fennec Pharmaceuticals shows strong revenue growth and improved cash flow, key for its industry. However, profitability issues and a weak balance sheet weigh down the score. Technical indicators and valuation reflect mixed signals, while positive earnings call sentiments provide some optimism. Addressing financial challenges will be crucial for future performance.
To see Spark’s full report on TSE:FRX stock, click here.
More about Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a biopharmaceutical company listed on the Toronto Stock Exchange under the symbol FENC, focused on developing and commercializing pharmaceutical therapies, with its shares actively held and traded by institutional investors such as Southpoint Capital Advisors.
Average Trading Volume: 1,244
Technical Sentiment Signal: Buy
Current Market Cap: C$362.9M
See more insights into FRX stock on TipRanks’ Stock Analysis page.