Fennec Pharmaceuticals (TSE:FRX) Reaches New 52-Week High – Still a Buy?

Fennec Pharmaceuticals Inc. (TSE:FRX) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$12.15 and last traded at C$12.14, with a volume of 809 shares changing hands. The stock had previously closed at C$11.89.

Fennec Pharmaceuticals Stock Up 2.3%

The company has a debt-to-equity ratio of -620.83, a current ratio of 7.80 and a quick ratio of 10.17. The stock has a market capitalization of C$234.50 million, a P/E ratio of -205.99 and a beta of 0.25. The firm has a 50 day moving average of C$10.37 and a 200-day moving average of C$9.33.

Insider Activity

In other news, Director Rostislav Christov Raykov sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of C$11.71, for a total value of C$117,096.00. Also, Director Jeffrey Hackman acquired 15,000 shares of the stock in a transaction dated Monday, May 19th. The stock was bought at an average price of C$9.77 per share, for a total transaction of C$146,580.00. In the last ninety days, insiders have sold 38,076 shares of company stock worth $391,650. 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.