Fennec Pharmaceuticals (TSE:FRX) Hits New 1-Year High – Should You Buy?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$14.50 and last traded at C$14.50, with a volume of 984 shares. The stock had previously closed at C$12.82.

Fennec Pharmaceuticals Stock Up 0.9%

The stock has a market cap of C$512.02 million, a PE ratio of -50.83 and a beta of 3.52. The company’s fifty day moving average is C$11.57 and its 200 day moving average is C$10.79.

Insiders Place Their Bets

In other Fennec Pharmaceuticals news, Director Rostislav Christov Raykov sold 9,747 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$13.23, for a total value of C$128,952.81. Following the transaction, the director directly owned 2,746,104 shares of the company’s stock, valued at C$36,330,955.92. This trade represents a 0.35% decrease in their ownership of the stock. Also, Director Chris Anigeron Rallis sold 8,346 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$9.67, for a total value of C$80,705.82. Following the completion of the sale, the director directly owned 61,314 shares of the company’s stock, valued at C$592,906.38. The trade was a 11.98% decrease in their position. 16.20% of the stock is currently owned by corporate insiders.

About Fennec Pharmaceuticals

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.