Fennec Pharmaceuticals (TSE:FRX) Sets New 12-Month High – Here’s Why

Shares of Fennec Pharmaceuticals Inc. (TSE:FRX) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$13.98 and last traded at C$13.46, with a volume of 2035 shares traded. The stock had previously closed at C$13.71.

Wall Street Analyst Weigh In

Separately, B. Riley Financial upgraded shares of Fennec Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Fennec Pharmaceuticals Trading Down 1.5%

The stock’s 50-day moving average is C$9.59 and its 200-day moving average is C$10.45. The firm has a market capitalization of C$468.95 million, a price-to-earnings ratio of -46.55 and a beta of 3.22.

Insider Activity

In other Fennec Pharmaceuticals news, Director Chris Anigeron Rallis purchased 14,344 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of C$3.35 per share, with a total value of C$48,052.40. Following the completion of the purchase, the director owned 69,660 shares of the company’s stock, valued at approximately C$233,361. The trade was a 25.93% increase in their ownership of the stock. Insiders own 16.20% of the company’s stock.

Fennec Pharmaceuticals Company Profile

Fennec Pharmaceuticals Inc is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom ( U.K. ) approval in October 2023 under the brand name PEDMARQSI®. In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, with rights to commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand.