Fennec Pharmaceuticals (TSE:FRX) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$9.63 and traded as high as C$9.81. Fennec Pharmaceuticals shares last traded at C$9.81, with a volume of 1,870 shares traded.

Wall Street Analysts Forecast Growth

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

Fennec Pharmaceuticals Stock Performance

The firm has a market cap of C$340.53 million, a price-to-earnings ratio of -28.85 and a beta of 3.22. The business’s 50-day moving average is C$9.63 and its 200-day moving average is C$10.50.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc is a clinical-stage biotechnology company. It is primarily engaged in research and development activities. The company is developing Sodium Thiosulfate (STS), a chemo-protectant against hearing loss associated with platinum-based chemotherapy. Its lead product candidate is PEDMARK which is sodium thiosulfate in a novel formulation for the prevention of cisplatin induced hearing loss, or ototoxicity in children.