Fennec Pharmaceuticals (TSE:FRX) Shares Cross Below Fifty Day Moving Average – Here’s Why

Fennec Pharmaceuticals Inc. (TSE:FRX) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$8.28 and traded as low as C$7.80. Fennec Pharmaceuticals shares last traded at C$7.90, with a volume of 1,652 shares changing 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 Stock Up 13.9 %

The firm has a fifty day moving average of C$8.39 and a 200-day moving average of C$7.66. The company has a quick ratio of 10.17, a current ratio of 8.02 and a debt-to-equity ratio of 1,040.68. The firm has a market cap of C$246.24 million, a P/E ratio of 90.00 and a beta of 0.25.

Fennec Pharmaceuticals (TSE:FRX) last announced its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported C($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.19) by C($0.10). Fennec Pharmaceuticals had a negative return on equity of 1,005.59% and a net margin of 5.59%. During the same period in the prior year, the firm posted ($0.09) EPS. On average, equities research analysts anticipate that Fennec Pharmaceuticals Inc. will post 0.6037736 earnings per share for the current year.

Insider Activity at Fennec Pharmaceuticals

In related news, Senior Officer Robert Christopher Andrade acquired 15,816 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of C$3.43 per share, for a total transaction of C$54,248.88. Also, Director Rostislav Christov Raykov bought 25,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price of C$3.87 per share, with a total value of C$96,840.00. In the last ninety days, insiders bought 41,612 shares of company stock worth $157,868. Insiders own 16.20% of the company’s stock.

Fennec Pharmaceuticals Company Profile

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.