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Fennec Pharmaceuticals

FENC · NASDAQ

$10.46+$0.19 (+1.85%)TodayMarket closed ·
Prev close $10.27

FENC analyst rating

BuyConsensus of 4 analysts over the last 12 months. 100% rate it a buy.
  • Strong buy0
  • Buy4
  • Hold0
  • Underperform0
  • Sell0

12-month price target · 8 analysts

Average $18.02 (+72.3% upside)

Low
$16.16
Now
$10.46
High
$21.00

Upgrades and downgrades

The latest rating actions, newest first

FENC analyst upgrades, downgrades and rating actions
FirmDateActionRating
HC Wainwright & Co.Sep 9, 2026MaintainsBuy
B. Riley SecuritiesAug 12, 2026MaintainsBuy
WedbushAug 12, 2026MaintainsOutperform
HC Wainwright & Co.May 22, 2026MaintainsBuy
WedbushApr 16, 2026MaintainsOutperform
Piper SandlerJan 9, 2026InitiatesOverweight

The case for and against

Updated Oct 18, 2026

Bull case

Fennec Pharmaceuticals is attractive because PEDMARK is still in the early innings of commercial adoption, with net product sales rising to $17.2M in 2Q26, up 78% year over year, while demand broadened across new and existing accounts and July set all-time highs in enrollments, infusions, and active patients. The company’s fundamentals are also improving as it posted its first positive adjusted EBITDA of $2.8M, generated $17.9M in total revenue, and ended with $41.2M in cash, while its sales expansion and better execution suggest the commercial platform can scale further. Longer term, upside is supported by a potentially meaningful NCCN reclassification and by exclusivity extending to at least September 1, 2033, both of which could materially expand PEDMARK uptake in a large underpenetrated patient pool.

Bear case

Fennec Pharmaceuticals is a highly concentrated single-product company, with 100% of revenue tied to PEDMARK and no internal pipeline, so any setback in commercialization, reimbursement, or patent protection could sharply impair valuation and future growth. Recent results underscore the fragility of the model: 1Q26 revenue of $15.1M missed expectations, and full-year 2026 and 2027 revenue forecasts were reduced to $73.1M and $100.3M, even as cash stood at about $42M as of December 2025. The investment case also faces meaningful structural risks from slower U.S. uptake, off-label AYA reimbursement dependence, litigation, and the need for additional capital, all of which could delay profitability and dilute shareholders.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.