Fennec Pharmaceuticals (TSE:FRX) Stock Passes Above 50 Day Moving Average - Here's Why

Key Points

• Technical move: Fennec shares crossed above their 50‑day moving average, trading as high as C$9.81 versus a 50‑day MA of C$9.63 (volume 1,870), though the stock remains below the 200‑day MA of C$10.50.
• Analyst sentiment: B. Riley upgraded Fennec to a "Strong Buy" and MarketBeat shows a consensus rating of "Strong Buy."
• Company fundamentals: Market cap is C$340.5M with a negative P/E (−28.85) and high beta (3.22); Fennec is a clinical‑stage biotech developing PEDMARK (sodium thiosulfate) to prevent cisplatin‑induced hearing loss in children.

Fennec Pharmaceuticals Inc. (TSE:FRX - Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$9.63 and traded as high as C$9.81. Fennec Pharmaceuticals shares last traded at C$9.81, with a volume of 1,870 shares trading hands.

Analyst Upgrades and Downgrades

Separately, B. Riley Financial raised Fennec Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Fennec Pharmaceuticals Price Performance

The firm has a market cap of C$340.53 million, a P/E ratio of -28.85 and a beta of 3.22. The stock's 50 day moving average is C$9.63 and its two-hundred day moving average is C$10.50.

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.

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