B.Riley Securit Upgrades Fennec Pharmaceuticals (TSE:FRX) to Strong-Buy

Fennec Pharmaceuticals (TSE:FRX) was upgraded by B.Riley Securit to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Fennec Pharmaceuticals Trading Down 0.3%

FRX opened at C$10.50 on Wednesday. The stock has a market capitalization of C$358.61 million, a price-to-earnings ratio of -40.38 and a beta of 2.97. The company has a quick ratio of 10.17, a current ratio of 7.80 and a debt-to-equity ratio of -620.83. Fennec Pharmaceuticals has a twelve month low of C$7.02 and a twelve month high of C$13.83. The company has a 50-day simple moving average of C$10.50 and a 200 day simple moving average of C$11.41.

Insider Transactions at Fennec Pharmaceuticals

In related news, insider Southpoint Capital Advisors Lp sold 1,000,000 shares of Fennec Pharmaceuticals stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of C$10.35, for a total value of C$10,350,000.00. Following the transaction, the insider directly owned 2,744,741 shares of the company’s stock, valued at C$28,408,069.35. This trade represents a 26.70% decrease in their ownership of the stock. 16.20% of the stock is owned by company insiders.

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.