Maxim Group analyst Jason McCarthy maintained a Buy rating on Fennec Pharmaceuticals (FENC – Research Report) yesterday and set 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’ potential for growth. The company’s flagship product, Pedmark, is making significant strides in penetrating the adolescent and young adult (AYA) segment, which is crucial as it represents a large portion of the market. This expansion is supported by the company’s comprehensive patient support program and inclusion in medical guidelines, which are expected to drive further adoption and sales.
Moreover, Pedmark addresses a critical unmet need in preventing cisplatin-induced hearing loss in pediatric patients, a condition for which no other approved therapies existed prior to its launch. The product’s unique formulation and strong intellectual property protection until 2039, along with orphan drug status until 2029, provide a competitive edge. With a substantial market opportunity and strategic focus on the AYA segment, Fennec is well-positioned for robust growth, justifying the Buy rating.
McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Medicus Pharma Ltd, and SELLAS Life Sciences Group. According to TipRanks, McCarthy has an average return of -21.7% and a 26.41% success rate on recommended stocks.