Fennec Pharmaceuticals (TSE:FRX) Upgraded at B.Riley Securit

B.Riley Securit upgraded shares of Fennec Pharmaceuticals (TSE:FRX) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

Fennec Pharmaceuticals Price Performance

Shares of FRX opened at C$10.50 on Wednesday. The company has a debt-to-equity ratio of -620.83, a quick ratio of 10.17 and a current ratio of 7.80. Fennec Pharmaceuticals has a fifty-two week low of C$7.02 and a fifty-two week high of C$13.83. The firm has a 50-day simple moving average of C$10.50 and a 200-day simple moving average of C$11.41. The company has a market capitalization of C$358.61 million, a price-to-earnings ratio of -40.38 and a beta of 2.97.

Insider Buying and Selling at Fennec Pharmaceuticals

In other 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 value of C$10,350,000.00. Following the transaction, the insider owned 2,744,741 shares of the company’s stock, valued at approximately 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.