Fennec price target lowered to $15 from $17 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Fennec to $15 from $17 and keeps a Buy rating on the shares. The firm notes Fennec results fell short in the quarter. Craig-Hallum is cutting estimates to build in some near-term conservatism given its poor visibility into the pediatric market conditions. With that said, the firm believes that “we will look back at this quarter as the bottoming for sentiment and fundamentals,” as it thinks the company is beginning to see green shoots from the AYA opportunity.