Fennec Pharmaceuticals (TSE:FRX) Share Price Crosses Below 50 Day Moving Average – What’s Next?

Fennec Pharmaceuticals Inc. (TSE:FRX)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$8.28 and traded as low as C$7.80. Fennec Pharmaceuticals shares last traded at C$7.90, with a volume of 1,652 shares.

Wall Street Analysts Forecast Growth

Separately, Stephens upgraded Fennec Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 18th.

Fennec Pharmaceuticals Price Performance

The stock has a market cap of C$216.14 million, a price-to-earnings ratio of 79.00 and a beta of 0.25. The company has a debt-to-equity ratio of 1,040.68, a quick ratio of 10.17 and a current ratio of 8.02. The company has a 50-day simple moving average of C$8.28 and a two-hundred day simple moving average of C$7.65.

Fennec Pharmaceuticals (TSE:FRX) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported C($0.29) earnings per share for the quarter, missing the consensus estimate of C($0.19) by C($0.10). Fennec Pharmaceuticals had a net margin of 5.59% and a negative return on equity of 1,005.59%. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, equities research analysts forecast that Fennec Pharmaceuticals Inc. will post 0.6037736 EPS for the current year.

Insider Buying and Selling

In other news, Director Rostislav Christov Raykov sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of C$8.76, for a total value of C$87,552.00. Also, Senior Officer Robert Christopher Andrade bought 15,816 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were bought at an average price of C$3.43 per share, with a total value of C$54,248.88. Over the last 90 days, insiders acquired 41,612 shares of company stock worth $157,868. Company insiders own 16.20% of the company’s stock.

About Fennec Pharmaceuticals

Fennec Pharmaceuticals Inc operates as a biopharmaceutical company in the United States. The company's product candidate includes PEDMARK, a formulation of sodium thiosulfate for the prevention of platinum-induced ototoxicity in pediatric cancer patients. It sells its products through regional pediatric oncology specialists and medical science liaisons.