Fennec Pharmaceuticals (TSE:FRX) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$10.82 and traded as high as C$11.42. Fennec Pharmaceuticals shares last traded at C$11.42, with a volume of 125 shares.

Wall Street Analyst Weigh In

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

Fennec Pharmaceuticals Price Performance

The stock has a market cap of C$353.48 million, a price-to-earnings ratio of -39.81 and a beta of 2.97. The company has a current ratio of 4.69, a quick ratio of 10.17 and a debt-to-equity ratio of -403.07. The company’s fifty day moving average is C$10.81 and its two-hundred day moving average is C$11.42.

Insider Buying and Selling at Fennec Pharmaceuticals

In related news, Director Rostislav Christov Raykov sold 10,349 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of C$10.69, for a total value of C$110,630.81. Following the completion of the transaction, the director owned 2,709,294 shares in the company, valued at C$28,962,352.86. The trade was a 0.38% decrease in their ownership of the stock. Also, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of the stock in a transaction on Wednesday, December 24th. The shares were sold at an average price of C$10.35, for a total value of C$10,350,000.00. Following the completion of the transaction, the insider directly owned 2,744,741 shares in the company, valued at C$28,408,069.35. This trade represents a 26.70% decrease in their position. 16.20% of the stock is currently owned by company insiders.

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.