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 stock traded as high as C$13.98 and last traded at C$13.46, with a volume of 2035 shares trading hands. The stock had previously closed at C$13.71.

Wall Street Analyst Weigh In

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

Fennec Pharmaceuticals Price Performance

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

Insider Buying and Selling at Fennec Pharmaceuticals

In other news, Director Chris Anigeron Rallis sold 8,346 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$9.67, for a total transaction of C$80,705.82. Following the completion of the sale, the director directly owned 61,314 shares in the company, valued at C$592,906.38. This represents a 11.98% decrease in their ownership of the stock. 16.20% of the stock is currently owned by company insiders.

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.