Fennec Pharmaceuticals (TSE:FRX) Raised to “Strong-Buy” at B.Riley Securit

Fennec Pharmaceuticals (TSE:FRX) was upgraded by investment analysts at B.Riley Securit to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Fennec Pharmaceuticals Price Performance

Fennec Pharmaceuticals stock opened at C$10.50 on Wednesday. The company has a current ratio of 7.80, a quick ratio of 10.17 and a debt-to-equity ratio of -620.83. The company has a fifty day simple moving average of C$10.50 and a 200-day simple moving average of C$11.41. The stock has a market cap of C$358.61 million, a P/E ratio of -40.38 and a beta of 2.97. Fennec Pharmaceuticals has a 12-month low of C$7.02 and a 12-month high of C$13.83.

Insider Buying and Selling at Fennec Pharmaceuticals

In related news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of C$10.35, for a total transaction of C$10,350,000.00. Following the completion of the sale, the insider owned 2,744,741 shares in the company, valued at C$28,408,069.35. The trade was a 26.70% decrease in their ownership of the stock. Company insiders own 16.20% of the company’s stock.

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.