Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Fennec Pharmaceuticals, with a price target of $15.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Fennec Pharmaceuticals’ promising growth trajectory. The company’s flagship product, Pedmark, has shown strong revenue growth, particularly in the adolescent-young adult (AYA) demographic, which is a key target market. This growth is supported by increasing adoption in large community and academic centers, as well as recognition from significant oncology groups and guidelines.
Additionally, Pedmark’s unique position as the only FDA-approved treatment for preventing cisplatin-induced hearing loss in pediatric patients, combined with its intellectual property protection until 2039, underscores its market potential. With a substantial market opportunity in the U.S. and growing international traction, particularly in Europe, Fennec’s strategic focus on expanding Pedmark’s reach and recognition is expected to drive continued commercial success. These factors contribute to McCarthy’s positive outlook on Fennec Pharmaceuticals’ stock.
In another report released yesterday, Craig-Hallum also reiterated a Buy rating on the stock with a $14.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is neutral on the stock.