Fennec Pharmaceuticals (TSE:FRX) Stock Crosses Above Fifty Day Moving Average – What’s Next?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$7.55 and traded as high as C$8.87. Fennec Pharmaceuticals shares last traded at C$8.87, with a volume of 121 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Stephens upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

The business has a 50 day moving average price of C$7.61 and a two-hundred day moving average price of C$7.65. The stock has a market cap of C$241.59 million, a PE ratio of 88.30 and a beta of 0.25. The company has a debt-to-equity ratio of 1,040.68, a quick ratio of 10.17 and a current ratio of 8.02.

Insider Activity

In other news, Senior Officer Robert Christopher Andrade acquired 15,816 shares of Fennec Pharmaceuticals stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of C$3.43 per share, with a total value of C$54,248.88. Also, Director Rostislav Christov Raykov bought 25,000 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average price of C$3.87 per share, for a total transaction of C$96,840.00. Insiders acquired a total of 41,612 shares of company stock valued at $157,868 in the last ninety days. 16.20% of the stock is currently owned by insiders.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc operates as a biopharmaceutical company in the United States. The company's product candidate includes PEDMARK, a formulation of sodium thiosulfate for the prevention of platinum-induced ototoxicity in pediatric cancer patients. It sells its products through regional pediatric oncology specialists and medical science liaisons.