Fennec Pharmaceuticals (TSE:FRX) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$8.86 and traded as high as C$9.46. Fennec Pharmaceuticals shares last traded at C$9.46, with a volume of 408 shares traded.

Wall Street Analyst Weigh In

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

Fennec Pharmaceuticals Stock Performance

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 stock has a market cap of C$258.83 million, a price-to-earnings ratio of 94.60 and a beta of 0.25. The stock’s fifty day moving average is C$8.86 and its 200-day moving average is C$7.70.

Insider Transactions at Fennec Pharmaceuticals

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

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.