Fennec Pharmaceuticals (TSE:FRX) Upgraded by B.Riley Securit to Strong-Buy Rating

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

Fennec Pharmaceuticals Stock Down 0.3%

FRX 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’s 50-day moving average price is C$10.50 and its 200 day moving average price is C$11.41. Fennec Pharmaceuticals has a 52 week low of C$7.02 and a 52 week high of C$13.83. The company has a market cap of C$358.61 million, a P/E ratio of -40.38 and a beta of 2.97.

Insider Buying and Selling

In other Fennec Pharmaceuticals news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of the company’s stock in a transaction 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 sale, the insider owned 2,744,741 shares of the company’s stock, valued at approximately C$28,408,069.35. This represents a 26.70% decrease in their ownership of the stock. Insiders own 16.20% of the company’s stock.

Fennec Pharmaceuticals Company Profile

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.