Fennec Pharmaceuticals (TSE:FRX) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares 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.

Analyst Ratings Changes

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

Fennec Pharmaceuticals Trading Up 13.9 %

The firm’s 50 day moving average is C$8.39 and its 200 day moving average is C$7.66. The company has a debt-to-equity ratio of 1,040.68, a current ratio of 8.02 and a quick ratio of 10.17. The company has a market cap of C$246.24 million, a PE ratio of 90.00 and a beta of 0.25.

Fennec Pharmaceuticals (TSE:FRX) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported C($0.29) EPS for the quarter, missing the consensus estimate of C($0.19) by C($0.10). Fennec Pharmaceuticals had a net margin of 5.59% and a negative return on equity of 1,005.59%. During the same quarter in the prior year, the company earned ($0.09) earnings per share. On average, equities 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 purchased 15,816 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of C$3.43 per share, with a total value of C$54,248.88. Also, Director Rostislav Christov Raykov acquired 25,000 shares of the stock in a transaction dated Friday, December 20th. The shares were bought at an average price of C$3.87 per share, for a total transaction of C$96,840.00. Over the last quarter, insiders acquired 41,612 shares of company stock valued at $157,868. Company insiders own 16.20% of the company’s stock.

About Fennec Pharmaceuticals

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.