Fennec Pharmaceuticals (TSE:FRX) Sets New 12-Month High – Should You Buy?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$13.98 and last traded at C$13.46, with a volume of 2035 shares. The stock had previously closed at C$13.71.

Analyst Ratings Changes

Separately, B. Riley Financial raised Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of “Strong Buy”.

Fennec Pharmaceuticals Stock Performance

The stock has a market capitalization of C$475.55 million, a price-to-earnings ratio of -47.21 and a beta of 3.22. The business has a 50-day moving average of C$9.74 and a 200-day moving average of C$10.48.

Insider Activity

In related news, Director Chris Anigeron Rallis sold 8,346 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$9.67, for a total value of C$80,705.82. Following the completion of the sale, the director directly owned 61,314 shares of the company’s stock, valued at C$592,906.38. This represents a 11.98% decrease in their position. 16.20% of the stock is currently owned by company insiders.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.