Pharma Mar (OTCMKTS:PHMMF) Stock Price Up 18.7% – What’s Next?

Shares of Pharma Mar (OTCMKTS:PHMMF) shot up 18.7% during trading on Wednesday . The stock traded as high as $94.3374 and last traded at $94.3374. 183 shares traded hands during mid-day trading, an increase of 732% from the average session volume of 22 shares. The stock had previously closed at $79.49.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PHMMF shares. Chardan Capital raised shares of Pharma Mar to a “strong-buy” rating in a report on Tuesday, June 9th. BTIG Research initiated coverage on Pharma Mar in a research note on Thursday, April 23rd. They issued a “buy” rating on the stock. Finally, Zacks Research raised Pharma Mar to a “hold” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

Pharma Mar Price Performance

The business’s fifty day moving average price is $96.28 and its 200 day moving average price is $93.84. The company has a quick ratio of 2.44, a current ratio of 3.02 and a debt-to-equity ratio of 0.14.

About Pharma Mar

PharmaMar is a Spain-based biopharmaceutical company that specializes in the discovery and development of novel oncology therapies derived from marine organisms. Founded in 1986 as part of Grupo Zeltia, the company has pioneered the use of compounds extracted from deep-sea organisms to create synthetic analogs aimed at treating various forms of cancer. Its core expertise lies in marine biotechnology, medicinal chemistry and oncology-focused clinical development.

The company’s flagship product is Yondelis (trabectedin), an antitumor agent approved in the European Union for the treatment of soft tissue sarcoma and relapsed platinum-sensitive ovarian cancer.