Pharma Mar (OTCMKTS:PHMMF) Stock Crosses Below 50 Day Moving Average – What’s Next?

Shares of Pharma Mar (OTCMKTS:PHMMF) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $88.75 and traded as low as $87.5790. Pharma Mar shares last traded at $87.5790, with a volume of 300 shares.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PHMMF shares. BTIG Research initiated coverage on Pharma Mar in a research note on Thursday, April 23rd. They issued a “buy” rating on the stock. Chardan Capital upgraded shares of Pharma Mar to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of Pharma Mar to a “hold” rating in a research note on Monday, June 15th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Pharma Mar Trading Up 1.7%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.44 and a current ratio of 3.02. The business’s 50-day simple moving average is $88.75 and its 200 day simple moving average is $93.75.

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.