Short Interest in Pharma Mar (OTCMKTS:PHMMF) Drops By 99.3%

Pharma Mar (OTCMKTS:PHMMF) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 252 shares, a decrease of 99.3% from the June 15th total of 34,651 shares. Based on an average daily volume of 0 shares, the days-to-cover ratio is currently ∞ days. Approximately 0.0% of the company’s shares are sold short.

Pharma Mar Stock Performance

Shares of PHMMF traded down $3.44 during trading on Friday, reaching $90.90. 102 shares of the company traded hands, compared to its average volume of 27. The stock has a 50-day simple moving average of $95.96 and a 200-day simple moving average of $93.82. Pharma Mar has a twelve month low of $77.41 and a twelve month high of $110.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.02 and a quick ratio of 2.44.

Analyst Ratings Changes

PHMMF has been the topic of a number of analyst reports. Zacks Research raised shares of Pharma Mar to a “hold” rating in a research note on Monday, June 15th. Chardan Capital upgraded shares of Pharma Mar to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, BTIG Research assumed coverage on shares of Pharma Mar in a research report on Thursday, April 23rd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

Pharma Mar Company Profile

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.